McDougall v. Huntingdon & Broad Top R. & C. Co.

Opinion by

Mr. Justice Kephart,

This appeal is from an order refusing to appoint a receiver. Appellee is a common carrier, incorporated as a railroad by an act of the legislature, with capital stock of $3,371,750, a mortgage indebtedness of $2,270,500, and an unfunded debt, represented by demand notes, of $1,000,000. The road runs from Huntingdon to Mount Dallas, a distance of 45 miles, with numerous branches.

All the property of the corporation, real and personal, and its future income, are covered by mortgages, the first, dated August 8, 1854, for $406,000, the second, dated January 13, 1857,…