BAILEY v. RAILROAD COMPANY


84 U.S. 96 (1872)

17 Wall. 96

BAILEY v. RAILROAD COMPANY.

Supreme Court of United States.


Attorney(s) appearing for the Case

Messrs. Glover and Shepley, for the appellant:

Messrs. T.T. Gantt and J. Carr, contra:


Mr. Justice CLIFFORD delivered the opinion of the court.

Certificates of stock, described in the bill of complaint as common or unpreferred stock, amounting to $3,000,000, were issued by the respondents, divided into shares of one hundred dollars each, which constituted their capital stock. Pecuniary obligations were contracted by the company in constructing the road, much beyond their means of payment, which consisted of...

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