 | United States. Supreme Court - 1879 - 856 páginas
...required for necessary operating and managing expenses, proper equipment, and useful improvements. Every railroad mortgagee in accepting his security...receipts before he has any claim upon the income. If for the convenience of the moment something is taken from what may not improperly be called the... | |
 | 1879 - 552 páginas
...proper equipment and useful improvements. Every railroad mortgagee in accepting his security implledly agrees that the current debts made in the ordinary...receipts before he has any claim upon the income. If for the convenience of the moment something is taken from what may not improperly be called the... | |
 | 1896 - 2118 páginas
...required for necessary operating and managing expenses, proper equipment, and useful Improvements. Every railroad mortgagee, In accepting his security,...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... | |
 | United States. Circuit Court (4th Circuit) - 1880 - 742 páginas
...required for necessary operating and managing expenses, proper equipments, and useful improvements. Every railroad mortgagee in accepting his security...receipts before he has any claim upon the income. If for the convenience of the moment, something is taken from what may . not improperly be culled the... | |
 | 1880 - 920 páginas
...reasonable under the circumstances. Railroad mortgagees, in accepting their security, impliedly agree that the current debts, made in the ordinary course...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.... | |
 | United States. Circuit Court (4th Circuit), Robert William Hughes - 1880 - 750 páginas
...required for necessary operating and managing expenses, proper equipments, and useful improvements. Every railroad mortgagee in accepting his security...that the current debts made in the ordinary course of busine>s shall be paid from the current receipts before he has any claim upon the income. If for the... | |
 | 1901 - 2042 páginas
...property, as may, under tbe circumstances of the _partlcular case, appear to be reasonable." Again: "The Income out of which the mortgagee Is to be paid Is the net Income obtained from deducting from the gross earnings what Is required for necessary operating and managing expenses,... | |
 | Virginia. Supreme Court of Appeals - 1881 - 988 páginas
...without supplies and labor the business of the road cannot be carried on, and the mortgage creditor in accepting his security impliedly agrees that the...debts made in the ordinary course of business shall be first paid from the current receipts. If any reasonable doubt could be entertained of the extent and... | |
 | United States. Circuit Court (4th Circuit), Robert William Hughes - 1883 - 560 páginas
...equity they belong, and used to pay the mortgage debt." * * * * "Every railroad mortOpinion. gagee, in accepting his security, impliedly agrees that the...receipts, before he has any claim upon the income." * * * * " When a receiver is appointed, and it appears in the progress of the cause that bonded interest... | |
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The income out 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... 
