Oswego County Savings Bank v. Town of Genoa
New York Supreme Court
This action is brought to recover upon coupons aggregating $3,696, which have become due from time to time between and including March 1, 1889, and September 1, 1893, upon $48,800, of 7 per cent, coupon bonds assumed to be issued by the defendant in aid of the New York & Oswego Midland ¡Railroad.
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This action is brought to recover upon coupons aggregating $3,696, which have become due from time to time between and including March 1, 1889, and September 1, 1893, upon $48,800, of 7 per cent, coupon bonds assumed to be issued by the defendant in aid of the New York & Oswego Midland ¡Railroad. Said bonds are a portion of an issue of $75,000. Three defenses were mainly urged to plaintiff's recovery, as follows: 1. That the necessary consents of taxpayers of the town to the issuing of said bonds were not obtained. 2. That no such action .was taken upon the part of the railroad company…
1Opinion of the CourtHiscock, J.
The town of Genoa is situated in Cayuga county, south of Auburn and near the southern line of said county. Sometime before the occurrences especially involved in this action, the New York & Oswego Midland Railroad Company had been incorporated for the purpose of constructing a railroad from Oswego to or near Jersey City, through certain counties, of which Cayuga county was not one, and had entered upon the construction of said railroad. By chapter 398 of the Laws of 1866, provision had been made for the bonding by towns in certain counties through which it was expected said road would run in…
2Cases cited2 opinions
- People Ex Rel. Akin v. . MorganNew York Court of Appeals · 1874
- Purdy v. LansingSupreme Court of the United States · 1888
3Cited by2 opinions
- Reed v. City of Cedar RapidsSupreme Court of Iowa · 1908
- Grossman Bros. v. Atlas Construction Co.Appellate Terms of the Supreme Court of New York · 1909