Town of Kankakee v. Kankakee & Indiana R. R.

Welch J.

This was a bill filed in the name of appellant by Stephen R. Moore as solicitor. The bill states that the complainant is a municipal township. That under authority of law the township became a subscriber to the capital stock of the Kankakee and Indiana Railroad Company to the amount of $30,000 on November 1, 1871, and paid for the same by township bonds. That the total capital stock was $92,400. That Aroma township took $36,500 thereof and that the remaining $25,900 was never taken and paid for, but $900 thereof was taken by certain named individuals to hold and control the…