Baltimore v. Baltimore Railroad
Supreme Court of the United States
Error to the Circuit Court for the District of Maryland; the case being this: In 1854, the Baltimore and Ohio Railroad Company being then unfinished, and needing money to complete its road, ■the city of Baltimore, which was a very large stockholder' in tbe road, and greatly interested to have it completed, agreed, iii pursuance of an'act of the legislature of Maryland, which gave it this power, to lend the company $4,500,000; and, in order to raise the money, to issue the…
Read the full summary
Error to the Circuit Court for the District of Maryland; the case being this: In 1854, the Baltimore and Ohio Railroad Company being then unfinished, and needing money to complete its road, ■the city of Baltimore, which was a very large stockholder' in tbe road, and greatly interested to have it completed, agreed, iii pursuance of an'act of the legislature of Maryland, which gave it this power, to lend the company $4,500,000; and, in order to raise the money, to issue the bonds of the city for $5,000,000, payable in 1890, with interest payable quarterly, on' the first days of certain months…
1Opinion of the CourtJustice Davis
It is contended, on the part of the city, that if the tax in question be a lawful exaction by the United States, the burden of it must be borne by the company, and that the obligation of the company to the city is not changed by- reason of the imposition and collection of the tax. • Whether this be so or not, depends on the nature of the contract between the parties, for the company was authorized to withhold the tax, unless it had contracted with the city to pay it. * The position taken by the city is, that the company was bound to pay the full amount of the interest without deduction,…
2Cited by8 opinions
- Andrews v. St. Louis Joint Stock Land Bank of St. LouisCourt of Appeals for the Eighth Circuit · 1939
- Central Engineering & Construction Co. v. United StatesUnited States Court of Claims · 1945
- Urquhart v. Marion Hotel Co.Supreme Court of Arkansas · 1917
- Shultz v. Skaneateles RailroadNew York Supreme Court · 1910
- International Pavement Co. v. RichardsonU.S. Circuit Court for the District of Eastern Pennsylvania · 1896
3 more not listed; retrieve them via the Exa API.