Christian v. Atlantic & North Carolina Railroad
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE EASTERN DISTRICT OF NORTH CAROLINA. A State is an indispensable party to any proceeding in equity in which its property is sought to be taken and subjected to the payment of its obligations. , ' The State of North Carolina subscribed in 1856 for capital stock in a railway company which had been incorporated by its legislature, issued its bonds with thirty years to run, sold them, and with the proceeds paid its…
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APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE EASTERN DISTRICT OF NORTH CAROLINA. A State is an indispensable party to any proceeding in equity in which its property is sought to be taken and subjected to the payment of its obligations. , ' The State of North Carolina subscribed in 1856 for capital stock in a railway company which had been incorporated by its legislature, issued its bonds with thirty years to run, sold them, and with the proceeds paid its subscription, and received certificates of stock therefor, which certificates it never parted with and still holds. In the act…
1Opinion of the Court
.Mr. Justice Bradley
delivered the opinion of the court.
The State of North Carolina, by virtué of an act of its legislature, passed 12th February, 1855, and through its board of internal improvement,- subscribed for $1,066,600 of the-capital stock of The Atlantic and North Carolina Railroad Company, a corporation created by act of the legislature of said State for the purpose of building a railroad from Beaufort to' Goldsbordugh. In order to raise money to pay for this stock, the board of internal improvement; by virtue ,of the same act, issued the bonds of. the State, signed by the governor…
2Cases cited12 opinions
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3Cited by46 opinions
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