57 P. 903 | Or. | 1899
This is a motion to dismiss the appeal. In November of 1894 Cleveland Rockwell, a stockholder in the Portland Savings Bank, instituted a suit in behalf of himself and other stockholders for the purpose of dissolving the corporation, and winding up its business ; and, pending the suit, a receiver was appointed. On September 8, 1897, a dividend of five per cent, was declared, and the receiver directed to distribute the same among the creditors of the bank ; and on December 23, 1898, another dividend of four per cent, was declared and ordered paid as before. On December 24, 1898, the United States Mortgage & Trust Company of New York filed its petition in said cause, showing that it was a creditor of the defendant bank in the sum of $150,000, which principal sum would become due and payable October 4, 1899; that the same was secured by a mortgage upon real property of the bank ; that the claim had been duly presented to the receiver, with the request
Recurring now to the motion to dismiss the appeal, we are'impressed that the order dismissing the petition and denying the prayer for listing the claim of petitioner, so that it might participate in the dividends, is, in its nature, a final order, as it effectually and finally determines its rights to participate in any dividends of the insolvent bank, whether declared before or after the entry'of the order, and precludes the possibility of proceeding further in the premises. This being so, the trust company ought not to be required to await the settlement of the receivership, when the funds have all been distributed before it could be permitted to prosecute the appeal.
Motion Denied.