Court : US Supreme Court
Decided on : Jan-01-1861
..... been sold at 25 percent less than their par value, in that way reducing its dividend -- three thousand dollars per annum -- when the clear income of the company, after it had been finished, should become 6 percent per annum upon the cost of the road. we are confirmed in the ..... and that they could receive them. then, it was intended that the subscription should precede the organization, and no one who reads the whole act will doubt that the latter depended upon the subscription of the larger, if not the whole number of the twenty thousand shares of which the ..... alleged that they had usurped the office of supervisors and assessors of franklin township, under and by virtue of the act of the 13th april, 1846, and of assessing, levying, and collecting taxes, for the use and benefit of the spruce creek & water street turnpike company. and it was decided that the ..... 1853, passed a resolution recommending that the county commissioners "subscribe stock to the northwestern railroad to the amount of $200,000, agreeably to the act of assembly incorporating said company, and to issue bonds for the payment of said stock, making the conditions such as will best promote the interest ..... defendant denied its obligation to pay the coupons or the bonds. the plaintiff, to maintain the issue on his part, gave in evidence the act of the pennsylvania legislature by which the northwestern railroad company was incorporated. section 1 appointed certain persons therein named to open books, receive subscriptions, and .....Tag this Judgment!