| Volume 200, Volume 3, Page 206 View pdf image (33K) |
 |
|
|
 |
|
|
206 HIGH COURT OF CHANCERY. apply to that portion of this machinery furnished by the Messrs. Denmead, which I think are fixtures; but in my opinion, the cotton machinery manufactured by the Savage Company re- tains its character of movable property, and consequently the mortagee cannot claim it. I am, therefore, of opinion, that the Bank of Baltimore are entitled under their mortgage, as far as may be required for the payment of their debt, to the proceeds of the mortgaged premises; and that the machinery made and erected in this cotton-mill by Adam and William Denmead, except the looms, is to be regarded aa part and parcel of the mortgaged pre- mises, and subject as such to the payment of said debt. After the satisfaction of the mortgage to the Bank, the resi- due of the proceeds of sale of the mortgaged premises, together with the proceeds of the ten acres not included in the mort- gage to the Bank, but included in the mortgage to James Wilson, is to be applied to the payment of the claim due the latter. The Savage Manufacturing Company is entitled to the pro- ceeds of the machinery manufactured by and mortgaged to said Company on the 22d of February, 1848. Poole and Fergusson, who claim for the repairs to the machi- nery in the Powhatan Factory, and for cast-iron pipes put in the Pocahontas Factory, cannot maintain their claim in oppo- sition to the claims of the mortgagees; so far at least as the repairs are concerned. The lien for repairs must be postponed to the lien of the prior incumbrancers—the Bank and Wilson. The Court is not quite prepared at this time to say whether the cast-iron pipes, made and put by Poole and Fergusson in the Pocahontas Factory, picking-house, and repair-shop at- tached thereto, are or are not fixtures. If they are, they. constitute a part of the property mortgaged to the Bank and Wilson in 1841 and 1845, and their proceeds must be applied accordingly. If they are not fixtures, then they are covered by the mortgage to Spence and Reed of the 2d of April, 1849, though their claim may be subject to the lien of the mechanic. In stating the account, the Auditor will present the question |
| |||
|
| ||||
|
| ||||
Please view image to verify text. To report an error, please contact us.
Reports of Cases in the High Court of Chancery of Maryland 1846-1854
| Volume 200, Volume 3, Page 206 View pdf image (33K) |
|
Tell Us What You Think About the Maryland State Archives Website!
|
An Archives of Maryland electronic publication.
For information contact
mdlegal@mdarchives.state.md.us.
Maryland State Archives