W.T. Adams Mach. Co. v. Interstate Building & Loan Ass'n

• Decision Date: 05 November 1898
• Citation: 119 Ala. 97,24 So. 857
• Court: Alabama Supreme Court
• Parties: W. T. ADAMS MACH. CO. v. INTERSTATE BUILDING & LOAN ASS'N.

24 So. 857

119 Ala. 97

W. T. ADAMS MACH. CO. v. INTERSTATE BUILDING & LOAN ASS'N.

Supreme Court of Alabama

November 5, 1898

Appeal from city court of Gadsden; John H. Disque, Judge.

The bill in this case was filed by the Interstate Building & Loan Association against Amos B. Jones, in his individual capacity, and W. G. Brockway and J. D. Humphreys, as assignees of Amos B. Jones, and the W. T. Adams Machine Company. From a decree for complainant, the machine company appeals. Reversed.

The facts averred in the bill were as follows: Amos B. Jones purchased certain described lands, with a large building thereon suitable for a college; that, after such purchase, he erected, and caused to be erected and joined on to said building, certain other buildings; that he erected and attached to said realty an electric light plant to light the building, and an engine, boiler, and hot-water heater together with the appliances, for the purpose of heating the building to be used as a college; that said engine and boiler were placed on solid stone foundations taken from excavations in the ground, and that the heating apparatus was affixed to the building and to the engine and boiler; that there were other improvements made by said A. B. Jones upon the property so purchased by him; that the engine, boiler, and hot-water heater above mentioned, which were used in connection with and as a part of, the electric light plant, and for the purpose of heating the building, were purchased by said Jones from the W. T. Adams Machine Company, on June 21, 1895; that said machine company, at the time of the sale, took an instrument in writing from said Jones, in which it was stipulated that said Adams Machine Company retained the title to said machinery until it was fully paid for,-it being known at the time by said machine company that such property was to be used in connection with the building occupied by said Jones as a college. On March 15, 1896, the complainant, the Interstate Building & Loan Association, loaned to said Jones $12,000, and took from him, as security for the payment of said loan, a mortgage on the property owned by said Jones including the lands above referred to, and the buildings etc.; the mortgage describing the lands and conveying them together with the appurtenances thereunto belonging. This loan was negotiated and consummated in the manner usual in the making of loans by building and loan associations. Subsequent to the making of this loan, the said Amos B Jones, on December 31, 1896, made a general assignment for the benefit of his creditors, and executed and delivered to W. G. Brockway and J. D. Humphreys a deed conveying the aforementioned real property, together with other property, in trust for the benefit of the creditors of said Jones. Upon Amos B. Jones' failing to make the payments stipulated for in his contract with, and mortgage to, the Interstate Building & Loan Association, said association filed the present bill against the parties named above, for the purpose of having said mortgage foreclosed, and to enjoin the said W. G. Brockway and J. D. Humphreys, and the said W. T. Adams Machine Company, from, in any way, moving or molesting any or all of the property attached to the building, including the engine, boiler, and hot-water...