by John Marshall Harlan

“ The trust-deed and chattel mortgage executed by the iron-works created a lien upon the property in favor of Wheeler, Carson, Hill, and the Keator Lumber Company superior to all other creditors. The furnace company, in behalf of itself and other unsecured creditors, as well as Wheelock, denied the validity of Hill's lien as against them. That lien was therefore an incumbrance or could upon the title to their prejudice. Until such lien or incumbrance was removed, they could not know the extent of their interest in the property or in the proceeds of its sale. ”

“ It is also suggested that the court proceeded in the suit instituted by the furnace company upon the theory that it was maintainable under the provisions of the Illinois statute giving courts of equity 'full power, on good cause shown, to dissolve or close up the business of any corporation, to appoint a receiver therefor who shall have authority, by the name of the receiver of such corporation, to sue in all courts and do all things necessary to closing up its affairs, as commanded by the decree of such court.' 1 Starr & C. Ann. ”

“ There is nothing to show that the order of sale was even improvidently made, much less that it was procured by fraud, or that the property was sacrificed. If the circumstances justified immediate action, the court had power to order a sale in advance of a final decree. The sale was not ordered or made until after Hill had been duly served with a copy of the order of November 28, 1883, to appear and plead, answer or demur, to the cross-bill by the day fixed in that order. ”