Lucius Quintus Cincinnatus Lamar

“ As respects the claim for rental during the period of the receivership at the suit of a judgment creditor, it was held that it was not entitled to priority of lien over the mortgage creditors, on the foreclosure and sale of the road. In other words, it was held that the bondholders, represented by the appellant, the beneficial owners of the property, could not be held liable for rental value during the time the receivership was at the instance of a judgment creditor. ”

“ Justice BREWER, 'when the court, in the administration of the receivership, thereafter returns the personalty to the holder of the liens upon it, such lienholder must be content to be relieved from any burden for a pro rata share of the deficiency, and has no equity to claim that he shall be not only thus relieved, but that he may also charge upon the realty, to the detriment of the lienholder thereon, both the entire burden of the deficiency and compensation to him for the use of his property.' 136 U.S. 100, 10 Sup. ”

“ They contributed to the preservation of the property during the receivership, and went towards swelling the fund arising from the sale on foreclosure. Under such circumstances the court appointing the receiver was justified, under the rule laid down in Kneeland v. Trust Co., supra, in preferring such claim to the claims of bondholders whose property they assisted in preserving. ”