Shepley v. Atlantic & St. Lawrence R. R.
Supreme Judicial Court of Maine
Bill in Equity, commenced by Ether Shepley, John Rand and George F. Shepley, trustees under a mortgage executed by the Atlantic & St. Lawrence Railroad Co., on the first day of April, 1851, a copy of which was annexed to the bill.
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Bill in Equity, commenced by Ether Shepley, John Rand and George F. Shepley, trustees under a mortgage executed by the Atlantic & St. Lawrence Railroad Co., on the first day of April, 1851, a copy of which was annexed to the bill. The mortgage conveyed to Ether Shepley, John Anderson and John Rand, and to their survivors and successors, " all the railroad of the Atlantic & St. Lawrence Railroad Co. situated in the counties of Cumberland and Oxford, in the State of Maine, and continued, and to be continued, through the northern parts of the States of New Hampshire and Vermont, including all…
1Opinion of the CourtWalton, J.
This is a bill in equity to which the defendants have demurred.
April 1, 1851, the Atlantic & St. Lawrence Railroad Company mortgaged their franchise, and all their property, real and personal, including their right of way, to secure the payment of bonds issued by said company to the amount of $1,500,000. In that mortgage it Is agreed, among other things, that if the railroad company should at any time fail to pay the interest which should become due upon any of said bonds, or the principal, according to the tenor thereof, it should then be lawful for the trustees, (subject to the prior rights…
2Cited by9 opinions
- McLane v. Placerville & Sacramento Valley R.R.California Supreme Court · 1885
- Nusbaum v. ShaperoMichigan Supreme Court · 1930
- Dow v. Memphis & L. R. R. Co.United States Circuit Court · 1884
- Michigan Trust Co. v. Lansing Lumber Co.Michigan Supreme Court · 1894
- Union Trust Co. v. Charlotte General Electric Co.Michigan Supreme Court · 1908
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