Humphreys v. Morton
Illinois Supreme Court
Appeal from the Appellate Court for the Second District;— heard in that court on appeal from the Circuit Court of Peoria county; the Hon. David McCulloch, Judge, presiding.
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Appeal from the Appellate Court for the Second District;— heard in that court on appeal from the Circuit Court of Peoria county; the Hon. David McCulloch, Judge, presiding. On the 21st day of May, 1864, the Peoria, Pekin and Jacksonville Railroad Company executed and 'delivered a mortgage or deed of trust to Francis B. Cooley and James Bird, on the entire line of its road, as trustees, to secure the payment of certain first mortgage bonds which had been issued by the company. A large amount of these first mortgage bonds were subsequently sold and delivered by the company to Arnold, Allen,…
1Opinion of the CourtJustice Craig
The claim for priority, interposed by Humphreys and others, is predicated upon the decisions of this court to the effect that where several notes, payable at different dates, are secured by a mortgage, the notes, in the absence of any special provision in the mortgage to the contrary, are entitled to payment from the proceeds of the mortgaged property, in the order of their maturity. This is the doctrine of Sargent v. Howe, 21 Ill. 148, Vansant v. Allmon, 23 id. 35, Gardner v. Diederichs, 41 id. 170, and subsequent eases. But does the case under consideration fall within the principle of…
2Cases cited4 opinions
- Clark v. Iowa CitySupreme Court of the United States · 1875
- Harper v. ElyIllinois Supreme Court · 1873
- Sargent v. HoweIllinois Supreme Court · 1859
- President of the New Hope Delaware Bridge Co. v. PerryIllinois Supreme Court · 1850
3Cited by15 opinions
- Scherk v. NewtonCourt of Appeals for the Tenth Circuit · 1945
- Hamilton v. Wheeling Public Service Co.West Virginia Supreme Court · 1921
- Parker v. McGintySupreme Court of Colorado · 1925
- In the Matter of Estates of LallaIllinois Supreme Court · 1936
- Kuppenheimer v. Chicago Title & Trust Co.Appellate Court of Illinois · 1911
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