Turner v. Peoria & Springfield Railroad

' Many of the principal facts contained in this record appear by stipulation of the parties. On May 22, 1875, under a bill filed by a bondholder, the Peoria and Springfield Eailroad Company was placed in the hands of a receiver, who, under the direction of the court, took possession of all the property of the company.

Application was made to the court, by the first receiver appointed, for leave to borrow money with which to make needed improvements indispensable to the preservation of the property and to the profitable running of the road, which was granted, and the receiver authorized to…