Sullivan v. Portland & Kennebec Railroad
Supreme Court of the United States
Appeal from tbe Circuit Court of tbe United States for tbe District of Maine. Tbe facts are stated in tbe opinion of tbe court.
1Opinion of the CourtJustice Swayne
delivered tbe opinion of tbe court.
Tbe Kennebec and Portland Railroad Company was authorized to build a railroad from Portland to Augusta, both in tbe State of Maine.
On tbe 30th of April, 1850, that portion of tbe road between North Yarmouth and Portland, about twelve miles in length, was mortgaged to Ruel Williams, John Patten, and J. B. Carroll, trustees, to. secure tbe payment of $202,400 advanced to tbe company by tbe cestuis que trust. Tbe debt was represented by certificates bearing interest at tbe rate of ten per cent per annum.
On tbe 1st of November, 1850, tbe. company mortgaged tbe…
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