283 F. 56 (7th Cir. 1922), 3047, Union Trust & Savings Bank v. Hamilton
|Citation:||283 F. 56|
|Party Name:||UNION TRUST & SAVINGS BANK et al. v. HAMILTON et al.|
|Case Date:||July 26, 1922|
|Court:||United States Courts of Appeals, Court of Appeals for the Seventh Circuit|
Francis M. Lowes, of Chicago, Ill., for appellants.
John E. Hamlin, of East St. Louis, Ill., for appellees.
Before ALSCHULER, EVANS, and PAGE, Circuit Judges.
PAGE, Circuit Judge.
As to the objection to the allowance of $18,000 fees for the receivers' attorneys, both the master and the court found that those fees were proper, and not excessive, and we also find that such allowance is abundantly sustained by the record.
Several reasons are assigned why no fees should have been allowed to Receivers Trautmann and Hamilton, the most important of which is that it is claimed there is evidence to show that on March 5, 1914, the day before the appointment of the three receivers, Crane, Hamilton, and Lorimer, it was agreed by Lorimer, Hamilton, Trautmann, and others that three receivers were to be appointed, one of whom, Crane, was to be the operating receiver and have compensation for his services, but that the other two were to serve without compensation. This conclusion seems to be based on Lorimer's statement that both Hamilton and Trautmann heard that proposition advanced, but said nothing. No court order was made touching the matter of compensation at any time before the final settlement.
Crane served from March 6, 1914, to July 31, 1914, and received as compensation $2,500 and interest. Lorimer resigned June 16, 1914, and Trautmann was then appointed. No one succeeded Crane, and Hamilton and Trautmann continued to serve until the receivership was finally
terminated. The whole receivership covered a period of about six years.
The master found that Hamilton and Trautmann were not entitled to compensation before the resignation of Crane on July 31, 1914, but were entitled to be paid $13,500 for services subsequent to that time. The court approved the master's finding, but increased the amount of the fees allowed to Hamilton and Trautmann from $13,500 to $20,100, or $10,050 to each. The road was sold for $400,000. While the road was not operated after Crane's resignation, yet there were a great many things legitimately and properly required of and done by the receivers.
At the time of the meeting testified to by Lorimer, Trautmann was not then about to be appointed a...
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