 | United States. Circuit Court (4th Circuit), Robert William Hughes - Admiralty - 1880 - 750 pages
...railroad mortgagee, even of earnings, in accepting his security, impliedly agrees that the current debts made in the ordinary course of business shall be paid...receipts before he has any claim upon the income. The mortgagee has his strict rights, which he mav enforce in the ordinary way. If he calls upon a court... | |
 | Law reports, digests, etc - 1896 - 2118 pages
...Improvements. Every railroad mortgagee, In accepting his security, impliedly agrees that the current debts, made in the ordinary course of business, shall be...receipts, before he has any claim upon the income." This, however, affords no warrant for the contention that all the liabilities incurred by the railroad... | |
 | Law reports, digests, etc - 1906 - 2090 pages
...that 'every railroad mortgagee, In accepting his security, impliedly agrees that the current debts made in the ordinary course of business shall be paid...receipts before he has any claim upon the income.' Fosdlek v. Schall, supra. The displacement of mortgage liens cannot be justified upon any line of reasoning... | |
 | United States. Circuit Court (4th Circuit) - Admiralty - 1880 - 742 pages
...railroad mortgagee, even of earnings, in accepting his security, impliedly agrees that the current debts made in the ordinary course of business shall be paid...receipts before he has any claim upon the income. The mortgagee has his strict rights, which he may enforce in the ordinary way. If he calls upon a court... | |
 | Law - 1880 - 920 pages
...circumstances. Railroad mortgagees, in accepting their security, impliedly agree that the current debts, made in the ordinary course of business, shall be paid from the current receipts, before he has anv claim upon the income. — Fosdick et al. v. Schall, US Sup. Ct., Wash. L. Rep , June 30, p. 255.... | |
 | Virginia. Supreme Court of Appeals - Law reports, digests, etc - 1881 - 988 pages
...anything; and in taking the mortM. & G. gage he impliedly agrees that the current debts made Co. in tne ordinary course of business shall be paid from ?""...current receipts before he has any claim upon the Abbott ' f. Iron Co. income; and it not so paid before the appomtment ot Same a receiver, they ought... | |
 | Lawrence Lewis, Adelbert Hamilton, John Houston Merrill, William Mark McKinney, James Manford Kerr, John Crawford Thomson - Railroad law - 1882 - 722 pages
...539. Every railroad mortgagee, in accepting his security, impliedly agrees that the current debts, made in the ordinary course of business, shall be...receipts before he has any claim upon the income. Fosdick v. Schall, 9 Otto, 235. Mr. WHEELER H. PECKHAM, for the appellees, the Bank of New York, National... | |
 | United States. Supreme Court - Law reports, digests, etc - 1884 - 888 pages
...improvements. Every railroad mortgagee in accepting his security impliedly agrees that the current debts made in the ordinary course of business shall be paid...from the current receipts before he has any claim on the income." Such being the case, when a court of chancery, in enforcing the rights of mortgage... | |
 | Law reports, digests, etc - 1885 - 896 pages
...railroad mortgagee, even of earnings, in accepting his security, impliedly agrees that the current debts made in the ordinary course of business shall be paid...receipts before he has any claim upon the income. The mortgagee has his strict rights, which he may enforce in the ordinary way. If he calls upon a court... | |
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... of which the mortgagee is to be paid is the net income obtained by deducting from the gross earnings what is required for necessary operating and managing expenses, proper equipment and useful improvements. Every railroad mortgagee in accepting his... 
