Winters v. Fleece

The defendants were contractors for grading a number of miles of the Mississippi River railroad. The complainant became a sub-contractor for a portion of the" same work, the contract stipulating that the defendants should pay the complainant *547eighty-five per cent, of the monthly estimates of the work done, “the remaining fifteen per cent, to be retained as collateral security for the execution of the contract, until the same is fully executed'.” The contract further provided that if it should be found that the work was not progressing with sufficient speed to insure its completion by the time…