McMurray v. Moran
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOE THE DISTRICT OF NEVADA. ' The .í¿'Nevada and Oregon Eailroad Company,” a corporation of tile State of Nevada, by its- mortgage or deed of trust, executed April 25, 1881, bargained, sold and conveyed to tbé ;TJnion Trust Company of New York all of the propertay, fran-,chides and estate, real and personal, then existing and to be acquired, including its line of road constructed or to be con-strueted or completed, to secure…
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APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOE THE DISTRICT OF NEVADA. ' The .í¿'Nevada and Oregon Eailroad Company,” a corporation of tile State of Nevada, by its- mortgage or deed of trust, executed April 25, 1881, bargained, sold and conveyed to tbé ;TJnion Trust Company of New York all of the propertay, fran-,chides and estate, real and personal, then existing and to be acquired, including its line of road constructed or to be con-strueted or completed, to secure tbe payment of three thousand bonds of one thousand dollars, each, to be issued by the mortgagor, and made payable on…
1Opinion of the Court
Mb. Justice Hablan;
after stating the above facts, delivered the opinion of the court.
It appears satisfactorily from the evidence that when appel-lees purchased the 310 bonds from Moore, the latter had contracts with the railroad company, by which it was restricted in issuing bonds to $10,000, par value, for- each mile of completed road. It was that feature of the several contracts between the company and Moore that gave value, in the commercial world, to the bonds delivered to him. And the benefit of that restriction upon the issuing of bonds necessarily passed to those who purchased them…
2Cases cited3 opinions
- Railroad Co. v. National BankSupreme Court of the United States · 1880
- Gibson v. ShufeldtSupreme Court of the United States · 1887
- Jewell v. KnightSupreme Court of the United States · 1887
3Cited by10 opinions
- Joy v. St. LouisSupreme Court of the United States · 1891
- Scherer v. EverestCourt of Appeals for the Eighth Circuit · 1909
- Kelly v. Central Hanover Bank & Trust Co.District Court, S.D. New York · 1935
- Moran v. HagermanCourt of Appeals for the Ninth Circuit · 1894
- Low v. BlackfordCourt of Appeals for the Fourth Circuit · 1898
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