New Orleans M. & C. R. v. Carter

Citations

• 107 Miss. 1
• 64 So. 842

Syllabus

<p>Corporations. Reorganization. Action against reorganized company. Railroads. Mortgages. Liabilities. Scope of relief. Code 1906, section 4067.</p> <p>In a suit brought against a new corporation on the theory that it was simply a reorganization of an old corporation, which was liable to plaintiff, the agreed statement of facts was held by the court not to show that the new corporation was a reorganization of the original corporation and liable for its debts.</p> <p>ON SUGGESTION OF ERROR.</p> <p>Hailroads. Mortgages. Liabilities secured. Scope of relief. Code 1906, section 4067.</p> <p>Code 1906, section 4067, providing that “a mortgage or deed of trust conveying the income of future earnings or the rolling stock of a railroad company shall not he valid against liabilities incurred by such company as a carrier of freight and passengers* or for damages sustained by persons or property,” has no application, in a suit against a railroad company based on the theory that it was a reorganization of a company liable to complainants, where under the agreed statement of facts such a theory is not sustained.</p>