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BAILEY v. RAILROAD CO.

106 U.S. 109 (____)

BAILEY v. RAILROAD COMPANY.

Supreme Court of United States.

Attorney(s) appearing for the Case

The Solicitor-General and Mr. Richard Crowley for the plaintiff in error.

Mr. Joseph H. Choate and Mr. Sidney T. Fairchild for the defendant in error.

MR. JUSTICE MATTHEWS delivered the opinion of the court.

On Dec. 19, 1868, the New York Central Railroad Company, afterwards merged by consolidation into a new corporation, known as the New York Central and Hudson River Railroad Company, the defendant in error, adopted a preamble, resolutions, and certificate, of which the following is a copy: —

"Whereas this company has hitherto expended of its earnings for the purpose of constructing and equipping...

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