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GUARANTY TRUST AND SAFE DEPOSIT CO. v. GREEN COVE SPRINGS AND MELROSE RAILROAD

No. 155.

139 U.S. 137 (1891)

GUARANTY TRUST AND SAFE DEPOSIT COMPANY v. GREEN COVE SPRINGS AND MELROSE RAILROAD COMPANY.

Supreme Court of United States.

Decided March 2, 1891.

Attorney(s) appearing for the Case

Mr. H. Bisbee for appellant.

Mr. J.C. Cooper for appellees.

MR. JUSTICE BROWN, after stating the case, delivered the opinion of the court.

1. The answer of Philip J. Canova raises an objection to the maintenance of this bill in the fact that sixty per cent in value of the bondholders had not requested action upon the part of the trustee, as required by the trust deed, which, in covenant numbered second, provides in substance that, in case of default after demand made, for a period...

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