Fidelity Loan & Trust Co. v. Douglas
Supreme Court of Iowa
Appeal from Woodbury District Court. — Hon. Scott M. Ladd, Judge. ' Action in equity to foreclose a mortgage, and for other equitable relief. A demurrer to the petition was filed and overruled, and from that ruling the defendant, Douglas, appeals.
1Opinion of the CourtRobinson, J.
*5341 *533I. On the first day of August, 1890, the Sioux City Street Railway Company executed the mortgage in suit to the plaintiff as trustee, to secure bonds of the street railway company, the issuance of which, to the amount of one million dollars, it had authorized. The mortgage was recorded on the second day of September, 1890, and bonds which it was designed to secure, to the amount of five hundred and twenty-five thousand dollars, were issued. Of that amount, bonds for three hundred and fifty thousand dollars have been sold, and are owned by good-faith purchasers, and the remainder have been…
2Cases cited3 opinions
- Funk v. St. Paul City Railway Co.Supreme Court of Minnesota · 1895
- City of Clinton v. Clinton & Lyons House Railway Co.Supreme Court of Iowa · 1873
- Sears v. Marshalltown Street R'y Co.Supreme Court of Iowa · 1885
3Cited by5 opinions
- Board of Railroad Commissioners v. Market Street Railway Co.California Supreme Court · 1901
- Indianapolis Traction & Terminal Co. v. KinneyIndiana Supreme Court · 1908
- McLeod v. Chicago & Northwestern Railway Co.Supreme Court of Iowa · 1904
- Cedar Rapids & Marion City Railway Co. v. City of Cedar RapidsSupreme Court of Iowa · 1898
- Swisher v. Interurban Railway Co.Supreme Court of Iowa · 1911