Pensacola & Atlantic Railroad v. Hilton's Trustee

Opinion op the Court by

Judge Nunn —

Reversing.

The appellant, Pensacola & Atlantic Eailroad Company constructed a railroad in the state of Florida in 1881, and for that purpose, issued several million dollars worth of bonds payable in gold. The bonds, guaranteed by the Louisville & Nashville Eailroad Company, one of the appellants, were for $1,000 each, bearing six per cent, interest payable semi-annually and are to become due August 1, 1921. Coupons were attached to the bonds which showed the amount of interest and when due.

W. I. Hilton became the owner of about six of these bonds, but only…