Wright v. Milwaukee & St. Paul Railway Co.
Wisconsin Supreme Court
APPEAL from the Circuit Court of Jefferson County. The complaint alleges, in substance, 1. That the city of Watertown in 1853, pursuant to law, executed and delivered to the Milwaukee & Watertown Eailroad Company its bonds to the amount of $80,000, in aid of the construction of said railroad; that the company indorsed upon said bonds its written guaranty of pay-mpnt of the principal and interest, &c. 2. That the company sold said bonds, and used the proceeds in building…
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APPEAL from the Circuit Court of Jefferson County. The complaint alleges, in substance, 1. That the city of Watertown in 1853, pursuant to law, executed and delivered to the Milwaukee & Watertown Eailroad Company its bonds to the amount of $80,000, in aid of the construction of said railroad; that the company indorsed upon said bonds its written guaranty of pay-mpnt of the principal and interest, &c. 2. That the company sold said bonds, and used the proceeds in building their road, and that plaintiff became and is the lawful owner and holder of a certain one of said bonds, with coupons…
1Opinion of the CourtPaihe, J.
The plaintiff seeks to compel the defendant to pay certain bonds issued by the town of Water-town in 1853, in aid of the Milwaukee , & Watertown railroad. The facts upon which this liability is asserted are, that, after the bonds were issued and their payment guarantied by the Milwaukee & Watertown Eailroad Company, that company became consolidated, in pursuance of legislative authority, with the Milwaukee & La Crosse Eailroad Company; that the consolidated company subsequently sold what was then known as the Watertown division, which included what had been previously owned by the Milwaukee &…
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