Beloit v. Morgan
Supreme Court of the United States
Appeal from the Circuit Court for Wisconsin. The legislature of Wisconsin, by act of 1853, authorized the supervisors of the town of Beloit to subscribe to the cap. ital stock of a certain railroad company, and to pay for the same in the bonds of the town, payable at the expiration of a term named, and with a rate of interest specified.
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Appeal from the Circuit Court for Wisconsin. The legislature of Wisconsin, by act of 1853, authorized the supervisors of the town of Beloit to subscribe to the cap. ital stock of a certain railroad company, and to pay for the same in the bonds of the town, payable at the expiration of a term named, and with a rate of interest specified. The supervisors, professing to execute the authority so' conferred, did subscribe to the stock of a certain railroad company and issued bonds; of many of which one Morgan became the holder, bond fide. "Whether the bonds were issued pursuant to the authority…
1Opinion of the Court
. Mr. Justice SWAYNE
delivered the opinkurof the court.
The bonds and coupons to which this litigation relates’ were issued under the same statute of Wisconsin, and for the same purpose, as those involved in the preceding case,' just decided. The object of the bill is to enjoin the appellee from proceeding in the suits at law which he has instituted upon a part of the securities in his hands; and to have those ' and all others belonging to him, delivered up and cancelled. The court below heard and dismissed the case. It is brought - here by this appeal for re-examination. .
Numerous objections…
2Cases cited3 opinions
- Satterlee v. MatthewsonSupreme Court of the United States · 1829
- Bendernagle v. CocksNew York Supreme Court · 1838
- Bouchaud v. DiasNew York Supreme Court · 1846
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- Pierce v. National Bank of CommerceCourt of Appeals for the Eighth Circuit · 1920
- Schneck v. City of JeffersonvilleIndiana Supreme Court · 1898
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