Pittsburg & Connellsville Railroad v. County of Allegheny
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Allegheny county: No. 165, to October and November Term 1865. This was an action of debt brought, January 29th 1867, by The County of Allegheny against The Pittsburg and Connellsville Railroad Company. The plaintiff in the declaration demanded the sum of $1,000,000 which the defendants owed and detained, &c.
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Error to the Court of Common Pleas of Allegheny county: No. 165, to October and November Term 1865. This was an action of debt brought, January 29th 1867, by The County of Allegheny against The Pittsburg and Connellsville Railroad Company. The plaintiff in the declaration demanded the sum of $1,000,000 which the defendants owed and detained, &c. The first count was that on the 29th of June 1858, in consideration that the plaintiff would subscribe for 15,000 shares of the stock of the defendants and pay $750,000 for it in bonds of the plaintiff bearing interest, payable semi-annually, and…
1Opinion of the Court
The opinion of the court was delivered, January 3d 1870, by
Thompson, C. J. —
The great question in this case is, whether the plaintiff in error, the Pittsburg and Connellsville Railroad Company, is bound by its contract with the county of Allegheny, to pay interest on the bonds of the latter, received by it in payment of stock subscribed by thenounty. The contract of the company was to pay interest equal to that falling due on the bonds, for thirty years, the period of the maturity of the bonds, and this suit was brought to recover unpaid interest falling due on the 1st January 1858, and…
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