Armstrong v. Union Trust & Savings Bank
Court of Appeals for the Ninth Circuit
Appeal from the District Court of the United States for the Northern Division of the Eastern District of Washington; F. H. Rudkin, Judge. Bill by the Continental & Commercial Trust & Savings Bank, a corporation, and another, as trustees, against the Fidelity Lumber Company, in which the Union Trust & Savings Bank, a corporation, was appointed permanent receiver. Objections by S. G. Armstrong and others to the receiver’s report of claims were overruled, and claimants appeal.
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Appeal from the District Court of the United States for the Northern Division of the Eastern District of Washington; F. H. Rudkin, Judge. Bill by the Continental & Commercial Trust & Savings Bank, a corporation, and another, as trustees, against the Fidelity Lumber Company, in which the Union Trust & Savings Bank, a corporation, was appointed permanent receiver. Objections by S. G. Armstrong and others to the receiver’s report of claims were overruled, and claimants appeal. The Union Trust & Savings Bank is receiver of the Fidelity Lumber Company, a corporation. Many claims against the Lumber…
1Opinion of the CourtWolverton, District Judge
(after stating the facts as above). - The question presented for solution is whether these certificates constitute the holders thereof stockholders of the company, or creditors. If the former, they are not entitled to participate in the assets of the company until the claims of all the creditors are paid in full. If the latter, they would be entitled to share with the other creditors in the *270distribution of the funds in the hands of the receiver. The Lumber Company has, without variation designated the obligation for which these certificates were issued as preferred stock, and the certificates…
2Cases cited15 opinions
- Warren v. KingSupreme Court of the United States · 1883
- Hamlin v. Toledo, St. L. & K. C. R.Court of Appeals for the Sixth Circuit · 1897
- Heller, Hirsch & Co. v. National Marine BankCourt of Appeals of Maryland · 1899
- Schulte v. Boulevard Gardens Land Co.California Supreme Court · 1913
- Porter v. Plymouth Gold Mining Co.Montana Supreme Court · 1904
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3Cited by22 opinions
- Commissioner of Internal Revenue v. OPP Holding Corp.Court of Appeals for the Second Circuit · 1935
- Elko Lamoille Power Co. v. Commissioner of Int. Rev.Court of Appeals for the Ninth Circuit · 1931
- Hazel Atlas Glass Co. v. Van Dyk & Reeves, Inc.Court of Appeals for the Second Circuit · 1925
- Northern Refrigerator Line, Inc. v. CommissionerUnited States Tax Court · 1943
- Mitchell, Receiver of the Liberty Clay Products Co.Supreme Court of Pennsylvania · 1927
17 more not listed; retrieve them via the Exa API.