Court Opinion

ID: 9825133
Source: CourtListenerOpinion
Date Created: 2023-09-01 12:09:11.191772+00
Date Added: 2024-06-11T07:40:26.547660
License: Public Domain

Former decree modified and rehearing denied March 13, 1923.
On Petition for Rehearing.
(213 Pac. 408.)
Rehearing Denied.
BEAN, J.
By a petition for a rehearing our attention is called to the necessity for further details in regard to the transfer to the Portland and Southeastern Railway Company of the property, consisting of right of way contracts, maps and plats of surveys, and all the assets acquired for the railway project. As shown by the record, the property was formerly held by E. P. McMahon as trustee. A document in the nature of a quitclaim deed and bill of sale, which is designated in the record as a “bill of sale” was executed by E. P. McMahon as trustee, and *222as beneficiary, but was not signed by all of the beneficiaries. In our former opinion we treated this as having been executed, for the reason that it ought to have been completed.
In order to perfect the corporate records of the Portland and Southeastern Railway Company, and to complete the transfer of the property in question the “bill of sale” should be signed by plaintiff H. S. Huson and by defendants James T. Barron, J. F. Watson, M. G-. Munly and E. C. Denny, and all of the beneficiaries for whom E. P. McMahon as trustee held such property in trust, or in case of the decease of any of such parties, then the same should be signed by their heirs, legatees, executors, administrators or assigns. This should be done before the stock awarded to such parties is delivered to them as provided in our former opinion.
As soon as the officers of the Portland and Southeastern Railway are duly elected and qualified, all of the assets and property mentioned in the opinion herein shall be delivered to, and accepted by the Portland and Southeastern Railway Company. The order of the lower court enjoining the officers of the corporation from accepting the bill of sale, or property mentioned, should be dissolved.
It should be noted that this court does not find the property involved herein to be of the value of a million dollars, or any other sum. We do not pass upon the value of such property, and only use the estimated value of shares of stock, in apportioning the interests of the respective parties.
In order to serve the purpose of the replevin action, further proceedings in which were restrained by the trial court, the Circuit Court is hereby authorized and directed, in case of any necessity therefor, to hear *223and determine any matters of dispute in regard to the transfer of the possession of the property and assets held by the receivers, or any party to this snit, and to make any and all necessary orders and decrees to carry into effect the opinion and decree of this conrt herein, not inconsistent with the same, to the end that all of such property and assets may he transferred, and in order that all matters in controversy herein may be fully settled and determined in this suit.
After careful consideration of the other portions of the petition for rehearing relating to the award of shares of stock to the several parties, we adhere to onr former opinion in regard thereto.
Former Decree Modified and Rehearing Denied. Motion to Recall Mandate Denied "With Supplemental Order.