Macon & Western R. R. v. Parker
Supreme Court of Georgia
In Equity, from Bibb. Decision on demurrer, by Judge Stark, at July Term, 1850. This bill was filed for foreclosure, account and relief, by Win.
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In Equity, from Bibb. Decision on demurrer, by Judge Stark, at July Term, 1850. This bill was filed for foreclosure, account and relief, by Win. B. Parker vs. the Macon and Western R. R. Co. (R. Collins, J. D. Gray, D. McDougald and E. Alexander being made also parties defendants.) It seeks to foreclose certain bonds or certificates of indebtedness to amount of $47,500, principal, predicated on and connected, by reference, to a certain mortgage contract dated 2d August, 1842, between the Monroe R. R. & Banking Company, (whose charter, amended, is the same used by the Macon & W. R. R. Co.) of…
1Opinion of the Court
By the Court.
Lumpkin, J.
delivering the opinion.
In 1833, the Legislature granted a charter to the Monroe Railroad Company, to construct a railroad from Macon to Forsyth. In 1835, an Act was passed amending and reviving the Act of 1833, and in 1836, another Act was passed, amending and extending the provisions of the original charter. This last Act provides) that the company may increase their stock so as to ex*389tend their road' in a northwestern direction,, and also confers banking privileges.
On the 2d of August, 1842, said company being greatly embarrassed and unable to proceed with their work,…
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