Page:Federal Reporter, 1st Series, Volume 2.djvu/758

 FAEMERS LOAN & TEUST 00. V. CENT. B. E. 01" lOWA. 761 �received from the assets of the estate 27 per cent, of the entire claim, including the $5,000 covered by the mortgage 8ued on, or $1,350 on account of said mortgage debt. This must be credited, and the plaintifEs are entitled to a decree for the balance, to-wit, |3,650, and interest from April 1, 1870. The plaintiffs have offered to take a decree for |5,000, whioh, being less than the sum thus found due, including interest, the decree will be for that sum, with costs. ���Thb Fabmbrs' Loan & Trtjbt Companï v. The Central Bail- �EOAD OF loWA. �{Oi/reuit Oowrt, D. lowa. May, 1880.) �RBCErTOBS — Ordbr op Coubt. — Order of court construed reçiuîring the receivers of a raiiroad to account before a master. �In the matter of the petition of J. B. G-rinnell, asking an order restraining the master from reporting on accounts of Grinnell, ex-receiver, which had been made and previously reported upon. �Miller, C. J., (orally.) The order or final decree nnder which the master's proceedings were had, orders that the receivers shall account before the master, and that the new corporation may contest or correct their accounts. It is im- material about that. It undoubtedly gives them the right to appear and contest the matter. The question to be consid- ered— ^the main question — and perhaps the only one, is, what was meant b'y that order of the court? And, in order to determine what was meant, you must consider what was the condition of things in regard to receiverships, because there were more than one, and the language of the order is in the plural, that the receivers shall appear and account before the master. �There had been three receivers, no one of whom bas been discharged. One of these receivers had made monthly presentations of bis accounts, which had been referred to the master, and were passed upon by the master and confirmed, ����