Memphis v. Memphis Savings Bank

The question presented for determination upon this record, is in respect of the right of the city of Memphis to call in for redemption a certain series of its funded bonds. , The case was heard by the Special Chancellor, Hon. Lee Thornton, upon a stipulation of agreed facts, and a decree pronounced dismissing the suit. The city appealed, and has assigned errors.

The particular bond which the city claimed the right to redeem, was issued by the Taxing District of Shelby County, on July 1,- 1885, and, on its face, is payable in thirty years, to wit, on July 1, 1915. The- city claims the right of…