Toledo, Delphos & Burlington Railroad v. Hamilton

Citations

• 134 U.S. 296
• 10 S. Ct. 546
• 33 L. Ed. 905
• 1890 U.S. LEXIS 1969

Syllabus

<p>■ A recorded mortgage, given by a railroad company, on its roadbed and other property, creates a lien whose priority cannot be displaced .there- ' after either directly by a mortgage given by the company, or indirectly by a contract between the company and a third party for the erection of buildings or other works of original construction.</p> <p>Whether a mechanic’s lien could, under the statutes of Ohio in force at the time of the attempted filing of a lien in this .case, be placed upon a railroad, quaere.</p> <p>The priority of a mortgage debt upon a railroad has been sometimes displaced in favor of unsecured creditors, when those debts were contracted for keeping up a railroad, already built, as a going concern; but those cases have no application to a debt contract.ed for original construction.</p> <p>A mortgage with words of general description conveys land held by a full equitable title as .well as that held by a legal title.</p>