46 F. 336 (W.D.Pa. 1891), Belmont Nail Co. v. Columbia Iron & Steel Co.

Citation:46 F. 336
Party Name:BELMONT NAIL CO. v. COLUMBIA IRON & STEEL CO.
Case Date:May 07, 1891
Court:United States Courts of Appeals, Court of Appeals for the Third Circuit
 
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Page 336

46 F. 336 (W.D.Pa. 1891)

BELMONT NAIL CO.

v.

COLUMBIA IRON & STEEL CO.

United States Circuit Court, W.D. Pennsylvania.

May 7, 1891

P. C. Knox, for complainant, and the motion.

A. M. Imbrie, for Huckenstein.

Geo. Shiras, Jr., for Totten & Hogg Iron & Steel Foundry Company, opposed.

Before ACHESON, C.J., and REED, J.

REED, J.

The receiver was appointed April 9, 1891, upon the motion of the plaintiff, who had filed the bill for itself and such others of the creditors of the defendant company who might join as plaintiffs. The second prayer of the bill is that the property of the defendant be decreed to be a trust fund for the benefit of all its creditors; that an account be taken of all the debts of the defendant and the assets of the corporation; that the assets be applied in payment of the indebtedness of the defendant in proportion to the whole thereof; that the defendant be enjoined from disposing of its assets; that a receiver may be appointed to take the trust fund, and distribute it among the several creditors who shall come in and prove their claims under the decree to be obtained, with power to hold, operate, and sell the said property of the defendant under the decree of the court. On April 14, 1891, John Huckenstein, claiming to be a creditor of the defendant, presented his petition, praying to be permitted to become a party to the proceedings, and joined as a plaintiff. To this petition an answer was filed by the defendant, in which he is admitted to be a creditor, but not to the amount claimed by him. Pending a decision on his petition, the plaintiff, on May 1, 1891, made a motion for leave to dismiss his bill, to which defendant's counsel consents, but which is opposed by Mr. Huckenstein. Subsequent to that motion, but prior to its argument, the Totten & Hogg Iron

Page 337

& Steel Foundry Company presented a petition, alleging that they are creditors of the defendant, and asking to be joined as plaintiffs. To this no answer has been filed. This creditor also opposed the dismissal of the bill. Both John Huckenstein and the foundry company should be permitted to join as plaintiffs. The bill having been filed as a bill for the benefit of creditors generally, the relief demanded being for the benefit of all, any creditor has a right to become a party plaintiff upon application to the court. Fost. Fed. Pr. pp. 88, 290; Forbes v. Railroad Co., 2...

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