State of Illinois v. Delafield
New York Court of Chancery
This was an application for an injunction, to restrain the defendant from selling, hypothecating, or parting with certain bonds or certificates of public stocks of the state of Illinois, or the proceeds thereof; and for the appointment of a receiver of the bonds or certificates which remained in the hands of the defendant, and of the proceeds or avails of such of the stock as had been sold.
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This was an application for an injunction, to restrain the defendant from selling, hypothecating, or parting with certain bonds or certificates of public stocks of the state of Illinois, or the proceeds thereof; and for the appointment of a receiver of the bonds or certificates which remained in the hands of the defendant, and of the proceeds or avails of such of the stock as had been sold. The bonds for $300,000 of the stock were signed by the governor and auditor of the state, and countersigned by the treasurer as directed by the act of the 9th January, 1836, for the construction of the…
1Opinion of the Court
The Chancellor.
There are no controverted facts in this case which have any bearing upon the questions to be decided on this application. The state bonds, or certificates of public stocks, which are the basis of this controversy, purport to have been issued in accordance with the provisions of the statutes of Illinois, authorizing the governor in the one case, and the fund commissioners in the other, to issue such securities. If these securities, therefore, pass into the hands of bona fide holders, who have no notice of any irregularity, or want of authority on the part of the officers or…
2Cited by38 opinions
- Yesler v. City of SeattleWashington Supreme Court · 1890
- Farmers & Mechanics' Bank v. Butchers & Drovers' BankNew York Court of Appeals · 1857
- Village of Fort Edward v. . FishNew York Court of Appeals · 1898
- Citizens' Savings Bank v. Town of GreenburghNew York Court of Appeals · 1903
- Brainerd v. . New York and Harlem Railroad CompanyNew York Court of Appeals · 1862
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