Farrar v. Southwestern Railroad

In the year 1869 the Southwestern Railroad Company, hereinafter called the “ Southwestern company,” under legislative authority leased Its railroad to the Central Railroad & Banking Company, hereinafter called the “ Central company.” By the terms of the contract the lessee was to pay to the stockholders of the lessor a semi-annual dividend upon their stock of 3 1/2 per cent., these dividends being due in June and December of each year. They were regularly paid up to and including the month of June, 1892. Previously, on the 3d day of March, 1892, the property of the Central company had, upon a…