Gregg v. Northern Railroad
Supreme Court of New Hampshire
Appeal, by the plaintiff, who dissented from a lease of tbe defendants’ railroad to the Boston & Maine Railroad for ninety-nine years from January 1, 1890, from an award of $82,500 as the value of his stock in the defendant corporation. The jury found its value to be $90,225. The lease referred to was at an annual rental equivalent to 5 per cent, on the capital stock for the first seven years and a half, and 6 per cent, thereafter.
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Appeal, by the plaintiff, who dissented from a lease of tbe defendants’ railroad to the Boston & Maine Railroad for ninety-nine years from January 1, 1890, from an award of $82,500 as the value of his stock in the defendant corporation. The jury found its value to be $90,225. The lease referred to was at an annual rental equivalent to 5 per cent, on the capital stock for the first seven years and a half, and 6 per cent, thereafter. Subject to exception, the plaintiff introduced evidence tending to show that in October, 1887, the Concord Railroad Corporation offered to take a lease of the road…
1Opinion of the Court
Per Curiam. *
The question of fact to be tried was the market value of Northern Railroad stock on the first day of January, 1890 (State v. James, 58 N. H. 67, Atlantic, etc., Railroad v. State, 60 N. H. 133, 140, Low v. Railroad, 63 N. H. 557, 562), the day when Gregg’s stock was taken by an exercise of the right of eminent domain. This power of purchase was exercised for the purpose of obviating Gregg’s objection to a lease of the road to the Boston & Maine Railroad for ninety-nine years from that date. P. S., c. 156, ss. 28-37. It is conceded that the market value of the shares on that day…
2Cases cited1 opinion
- Alexander v. United StatesSupreme Court of the United States · 1891
3Cited by2 opinions
- Perkins v. New Hampshire Power Co.Supreme Court of New Hampshire · 1940
- Stevens v. FellowsSupreme Court of New Hampshire · 1899