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MORGAN'S LA. AND TX. RAILROAD AND STEAMSHIP CO. v. TEXAS CENTRAL RAILWAY

Nos. 55, 59.

137 U.S. 171 (1890)

MORGAN'S LOUISIANA AND TEXAS RAILROAD AND STEAMSHIP COMPANY v. TEXAS CENTRAL RAILWAY COMPANY; FARMERS' LOAN AND TRUST COMPANY; AND METROPOLITAN TRUST COMPANY. TEXAS CENTRAL RAILWAY COMPANY v. MORGAN'S LOUISIANA AND TEXAS RAILROAD AND STEAMSHIP COMPANY; FARMERS' LOAN AND TRUST COMPANY; AND METROPOLITAN TRUST COMPANY.

Supreme Court of United States.

Decided November 24, 1890.

Attorney(s) appearing for the Case

Mr. J. Hubley Ashton for Morgan's Louisiana and Texas Railroad and Steamship Company, appellant.

Mr. Charles H. Tweed for the Texas Central Railway Company, appellant, submitted on his brief.

Mr. Herbert B. Turner for the Farmers' Loan and Trust Company, appellee.

MR. CHIEF JUSTICE FULLER, after stating the case as above reported, delivered the opinion of the court.

The objection that the Farmers' Company could not proceed to a foreclosure and sale to pay the principal as well as the interest of the bonds upon a default in the payment of interest, without averring and proving that the bill had been filed for that purpose by the request of the holders of seventy-five per cent in amount...

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