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GILFILLAN v. UNION CANAL CO.

109 U.S. 401 (1883)

GILFILLAN v. UNION CANAL COMPANY OF PENNSYLVANIA.

Supreme Court of United States.

Decided November 26th, 1883.

Attorney(s) appearing for the Case

Mr. James Duval Rodney for plaintiff in error.

Mr. Thomas Hart, Jun., for defendant in error.

MR. CHIEF JUSTICE WAITE delivered the opinion of the court.

The Union Canal Company of Pennsylvania, a corporation of the State of Pennsylvania, issued, in 1853, a series of bonds for the payment of money, amounting in the aggregate to $2,500,000, with coupons for semi-annual interest attached. These bonds and coupons were secured by a mortgage to trustees on the property of the company.

Prior to 1862 the company became pecuniarily embarrassed, and a plan...

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