Gilman, Clinton & Springfield Railroad v. Kelly
Illinois Supreme Court
Appeal from the Circuit Court of McLean county; the Hon. Thomas F. Tipton, Judge, presiding. This bill was filed by Joseph J. Kelly, as a stockholder in the Gilman. Clinton and Springfield Eailroad Company, on his own behalf and on behalf of other stockholders. Afterwards, certain towns,hips which had made subscriptions to the capital stock of the company, became parties complainant.
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Appeal from the Circuit Court of McLean county; the Hon. Thomas F. Tipton, Judge, presiding. This bill was filed by Joseph J. Kelly, as a stockholder in the Gilman. Clinton and Springfield Eailroad Company, on his own behalf and on behalf of other stockholders. Afterwards, certain towns,hips which had made subscriptions to the capital stock of the company, became parties complainant. A brief history of the company is given, from which it appears it was organized under the act of the General Assembly of this State, passed in 1867, and as amended by the act of 1869. A large amount of local…
1Opinion of the CourtChief Justice Scott
The directors of the railroad company had abandoned any intention they may have had, before this bill was filed, to lease the roád to the Pennsylvania Company, without the consent of the stockholders, having been advised they had no such authority under the charter of the compamu It was, therefore, unnecessary to enjoin the making of a lease of the railroad without the written consent of each stockholder, which the evidence shows the directors had no purpose to do. With the written consent of all the directors, it would have been as lawful before as after the decree to make the lease. The…
2Cases cited6 opinions
- Michoud v. GirodSupreme Court of the United States · 1846
- Hoffman Steam Coal Co. v. Cumberland Coal & Iron Co.Court of Appeals of Maryland · 1860
- Cumberland Coal & Iron Co. v. ShermanNew York Supreme Court · 1859
- People ex rel. Plugger v. Township Board of OverysselMichigan Supreme Court · 1863
- Flint & Pere Marquette Railway Co. v. DeweyMichigan Supreme Court · 1866
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3Cited by33 opinions
- McGourkey v. Toledo & Ohio Central Railway Co.Supreme Court of the United States · 1892
- Durfee v. Durfee & Canning, Inc.Massachusetts Supreme Judicial Court · 1948
- Higgins v. LansinghIllinois Supreme Court · 1895
- Yale Gas Stove Co. v. WilcoxSupreme Court of Connecticut · 1894
- Dixmoor Golf Club Inc. v. EvansIllinois Supreme Court · 1927
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