Boston Penny Savings Bank v. Boston & Maine Railroad

The plaintiff is the owner of ten registered bonds for $10,000 each issued by the defendant May 5, 1911, on which the stipulated semiannual interest was payable on the first days of March and September in each year -until maturity September 1, 1926. The interest was regularly paid, including the payment due March 1, 1916, but on August 22, 1916, a general creditor of the defendant brought suit ip the District Court of the United States for the District of Massachusetts, in which it was alleged that the plaintiff held certain promissory notes of the railroad company for a large amount which…