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Canada Southern Ry. Co. v. Gebhard - 109 U.S. 527 (1883) U.S. Supreme Court Canada Southern Ry. Co. v. Gebhard, 109 U.S. 527 (1883) Canada Southern Railway Company v. Gebhard Argued October 24, 1883 Decided December 10, 1883 109 U.S. 527 I N ERROR TO THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK Syllabus 1. The Parliament of Canada has authority to grant to an embarrassed railway corporation within the Dominion power to make an arrangement with its mortgage creditors for the substitution of a new security in the place of the one they hold, and to provide that the arrangement shall be binding on all the holders of obligations secured by the same mortgage when it shall have received the assent of the majority, provision being made for the protection of the minority in the enjoyment of rights and privileges in the new security identical with those of the majority. 2. When the Parliament of the Dominion of Canada authorizes a corporation, existin...
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Williams v. Morgan - 111 U.S. 684 (1884) U.S. Supreme Court Williams v. Morgan, 111 U.S. 684 (1884) Williams v. Morgan Argued October 30-31, 1883 Decided May 5, 1884 111 U.S. 684 APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE DISTRICT OF LOUISIANA Syllabus A decree in a suit in a circuit court for the foreclosure of a railroad, fixing the compensation to be paid to the trustees under the mortgage from the fund realized from the sale, is a final decree as to that matter, and this Court has jurisdiction on appeal. A holder of railroad bonds secured by a mortgage under foreclosure, has an interest in the amount of the trustee's compensation which entitles him to intervene, and to contest it, and to appeal from an adverse decision. When purchasers at a sale of a railroad under foreclosure purchase under an agreement, recognized by the court and referred to in the decree, that a new mortgage shall be issued after the sale, a part of which is to be applied to the pay...
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Memphis & L.R. R. Co. v. Railroad Commissioners - 112 U.S. 609 (1884) U.S. Supreme Court Memphis & L.R. R. Co. v. Railroad Commissioners, 112 U.S. 609 (1884) Memphis & Little Rock Railroad Company v. Railroad Commissioners Submitted November 25, 1884 Decided December 22, 1884 112 U.S. 609 I N ERROR TO THE SUPREME COURT OF THE STATE OF ARKANSAS Syllabus A statute exempting a corporation from taxation confers the privilege only on the corporation specially referred to, and the right will not pass to its successor unless the intent of the statute to that effect is clear and express. Page 112 U. S. 610 Morgan v. Louisiana, 93 U. S. 217 ; Wilson v. Games, 103 U. S. 417 and Louisville & Nashville Railroad Co. v. Palmes, 109 U. S. 244 , affirmed. The franchise to be a corporation is not a subject of sale and transfer, unless made so by a statute which provides a mode for exercising it. A franchise to be a corporation is distinct from a franchise, as a corporation, to m...
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Mobile v. Watson - 116 U.S. 289 (1886) U.S. Supreme Court Mobile v. Watson, 116 U.S. 289 (1886) Mobile v. Watson Argued December 10-11, 1885 Decided January 4, 1886 116 U.S. 289 ERROR TO THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF ALABAMA Syllabus When a municipal corporation with fixed boundaries is dissolved by law and a new corporation is created by the legislature for the same general purposes, but with new boundaries embracing less territory but containing substantially the same population, the great mass of the taxable property, and the corporate property of the old corporation which passes without consideration and for the same uses, the debts of the old corporation fall upon the new corporation as its legal successor, and powers of taxation to pay them, which it had at the time of their creation and which entered into the contracts, also survive and pass into the new corporation. The object of the first of these suits was the recovery of a ju...
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New York, L.E. & W. Railroad v. Nickals - 119 U.S. 296 (1886) U.S. Supreme Court New York, L.E. & W. Railroad v. Nickals, 119 U.S. 296 (1886) New York, Lake Erie and Western Railroad v. Nickals Argued November 1-2, 1886 Decided November 29, 1886 119 U.S. 296 APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK Syllabus The Erie Railway Company, being embarrassed and in the lands of a receiver appointed in a suit for the foreclosure of two of the mortgages upon the property of the company, its creditors and its shareholders, preferred and common, entered into an agreement for the reorganization of the company, to be accomplished by means of a foreclosure. Among other things, it was agreed that there should be issued "preferred stock, to an amount equal to the preferred stock of the Erie Railway Company now outstanding, to-wit, eighty five thousand three hundred and sixty nine shares, of the nominal amount of one hundred dollars each, entit...
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Eldred v. Bell Telephone Co. - 119 U.S. 513 (1886) U.S. Supreme Court Eldred v. Bell Telephone Co., 119 U.S. 513 (1886) Eldred v. Bell Telephone Company Argued December 7-8, 1886 Decided December 20, 1886 119 U.S. 513 ERROR TO THE CIRCUIT COURT OF THE UNITED STATES FOR THE EASTERN DISTRICT OF MISSOURI Syllabus On the facts in this case as stated in the opinion of the Court, held that the jury would not have been warranted in drawing the conclusion of fact from the evidence that there was such an agreement as that sued on; that the relation of the parties was not such as, in contemplation of law, to give rise to such liability, and that there was no error in the instruction of the court below to find a verdict for defendant. This was an action at law commenced by plaintiff in error as plaintiff to recover the par value of 250 shares in the capital Page 119 U. S. 514 stock of the defendant in error. Judgment below for defendant. The plaintiff sued out this writ of error. ...
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Hubbard v. Investment Company - 119 U.S. 696 (1887) U.S. Supreme Court Hubbard v. Investment Company, 119 U.S. 696 (1887) Hubbard v. Investment Company Argued December 17, 20, 1886 Decided January 17, 1887 119 U.S. 696 ERROR TO THE CIRCUIT COURT OF THE UNITED STATES FOR THE DISTRICT OF MASSACHUSETTS Syllabus On the facts in this case as stated in the opinion of the Court, held that there was no error in the instruction of the court below to the jury to find a verdict for the defendant. This was an action at law. The case is stated in the opinion of the Court. MR. JUSTICE MATTHEWS delivered the opinion of the Court. This is an action at law brought by the plaintiff in error, a citizen of Massachusetts, against the defendant in error, in the Supreme Judicial Court of that state for the County of Suffolk, and removed by the defendant, a corporation and citizen of the State of Illinois, into the circuit court of the United States for that district. The New York, New England...
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Manning v. French - 133 U.S. 186 (1890) U.S. Supreme Court Manning v. French, 133 U.S. 186 (1890) Manning v. French No. 1188 Submitted January 13, 1890 Decided January 27, 1890 133 U.S. 186 ERROR TO THE SUPERIOR COURT OF THE STATE OF MASSACHUSETTS Syllabus In an action brought in a state court against the judges of the Court of Commissioners of the Alabama Claims, by one who had been an attorney of that court, to recover damages caused by an order of the court disbarring him, the plaintiff averred and contended that the court had not been legally organized, and that it did not act judicially in making the order complained of, held that a decision by the state court that the Court of Alabama Claims was legally organized and did act judicially in that matter denied to the plaintiff no title, right, privilege or immunity claimed by him under the Constitution, or under a treaty or statute of the United States, or under a commission held or authority exercised under the United...
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Aspinwall v. Butler - 133 U.S. 595 (1890) U.S. Supreme Court Aspinwall v. Butler, 133 U.S. 595 (1890) Aspinwall v. Butler No. 957 Submitted January 7, 1890 Decided March 3, 1890 133 U.S. 595 ERROR TO THE CIRCUIT COURT OF THE UNITED STATES FOR THE DISTRICT OF MASSACHUSETTS Syllabus This case differs in no material fact from Delano v. Butler, 118 U. S. 634 , and is governed by it. When the previous proceedings looking to an increase in the capital stock of a national bank have been regular and all that are requisite, and a stockholder subscribes to his proportionate part of the increase and pays his subscription, the law does not attach to the subscription a condition that it is to be void if the whole increase authorized be not subscribed, although there may be cases in which equity would interfere to protect him in case of a material deficiency. The provision in Rev.Stat. 5742 that no increase of capital in a national bank shall be valid until the whole amount of the ...
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Louisville, E. & St.L. R. Co. v. Wilson - 138 U.S. 501 (1891) U.S. Supreme Court Louisville, E. & St.L. R. Co. v. Wilson, 138 U.S. 501 (1891) Louisville, Evansville and St. Louis Railroad Company v. Wilson No. 153 Argued January 21, 1891 Decided March 2, 1891 138 U.S. 501 APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF ILLINOIS Syllabus Some months after the sale of a railroad under foreclosure, and its surrender by the receiver to the corporation organized to receive it, the sale being made with a provision that the purchaser should pay all debts adjudged to be superior in equity to the deeds of trust foreclosed, an order was made giving such priority to the appellee. Held that an appeal lay in favor of the purchaser. The term "wages of employs," as used in an order directing the payment of certain classes of debts out of the proceeds of the sale of a railroad under foreclosure in preference to the secured liens, does not include the serv...
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