Quakertown & Eastern Railroad v. Guarantors' Liability Indemnity Co.
Supreme Court of Pennsylvania
Appeal, No. 281, Jan. T., 1902, by plaintiff, from decree of C. P. No. 1, Piula. Co., March T., 1898, No. 580, dismissing exceptions to auditor’s report in case of Quakertown & Eastern Railroad Company v. Guarantors’ Liability Indemnity Company of Pennsylvania et al. Bill in equity for an account of bonds and for a discovery. Before Biddle, P. J. The facts are stated in the opinion of the Supreme Court. Errors assigned were in dismissing exceptions to auditor’s report.
1Opinion of the Court
Opinion by
Mr. Justice Potter,
On or about September 1, 1897, the officers of the Quaker-town & Eastern Railroad Company deposited with the Guarantors’ Liability Indemnity Company 214 of its first mortgage coupon bonds, of the par value of $500 each, for the purpose of securing a proposed loan of $80,000, which sum was to be used in the construction and equipment of its railroad.
The loan was never consummated, and twenty of the bonds were returned to the appellant company, leaving 194 in the supposed custody of the Guarantors’ Liability Indemnity Company or its assignees, or others of the…
2Cases cited4 opinions
- McKelvy's & Sterrett's AppealsSupreme Court of Pennsylvania · 1885
- Balsbaugh v. FrazerSupreme Court of Pennsylvania · 1852
- Dubois's AppealSupreme Court of Pennsylvania · 1861
- Irwin v. WorkmanSupreme Court of Pennsylvania · 1834
3Cited by10 opinions
- Harris's AppealSupreme Court of Pennsylvania · 1936
- Recht v. Clairton Urban Redevelopment AuthoritySupreme Court of Pennsylvania · 1961
- Turtle Creek Bank & Trust Co. v. MurdockSuperior Court of Pennsylvania · 1942
- Zinsser Ex Rel. Thompson v. ZinsserSuperior Court of Pennsylvania · 1924
- Lancaster Trust Company's CaseSupreme Court of Pennsylvania · 1936
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