McColgan v. Baltimore Belt Railroad

Citations

• 85 Md. 519
• 36 A. 1026
• 1897 Md. LEXIS 41

Syllabus

<p>Executions — Property of Quasi-Public Corporation not Liable to Levy — Destruction of Common Futid by One Creditor — Injunction Against Execution.</p> <p>No execution can be levied upon the property of a railroad company, which is essential for the performance of its corporate duties, unless such levy be authorized by statute.</p> <p>Plaintiff was a judgment creditor of the defendant, a railroad company, all of whose property was mortgaged to secure a loan. An execution on the judgment was levied upon land on which the railway tracks were laid. Defendant applied for an injunction to restrain the sale. Held, that the injunction should be granted, not only because the property of a quasi-public corporation, essential to the performance of its duties to the public, is not subject to sale upon execution, in the absence of statutory authority, but also because one creditor will not be allowed to destroy a fund or property to which other creditors have a right to look for payment.</p>