Williams v. Morgan - 111 U.S. 684 (1884)
U.S. Supreme Court
Williams v. Morgan, 111 U.S. 684 (1884)
Williams v. Morgan
Argued October 30-31, 1883
Decided May 5, 1884
111 U.S. 684
A decree in a suit in a circuit court for the foreclosure of a railroad, fixing the compensation to be paid to the trustees under the mortgage from the fund realized from the sale, is a final decree as to that matter, and this Court has jurisdiction on appeal.
A holder of railroad bonds secured by a mortgage under foreclosure, has an interest in the amount of the trustee's compensation which entitles him to intervene, and to contest it, and to appeal from an adverse decision.
When purchasers at a sale of a railroad under foreclosure purchase under an agreement, recognized by the court and referred to in the decree, that a new mortgage shall be issued after the sale, a part of which is to be applied to the payment of the foreclosure debt and a part to the payment of expenses, which expenses include the compensation of the trustees under the mortgage foreclosed, the purchasing committee named in that agreement have an interest in fixing that compensation which entitles them to intervene, and to be heard, and to appeal from an adverse decision.
On the facts in this case the allowances made below are held to be excessive.
The facts are stated in the opinion of the Court.