Swift v. Union Canal Co.
Supreme Court of Pennsylvania
This was an action to recover the arrears of an annual interest of six: per cent, due to the plaintiff, a citizen of the United States, on twenty-nine shares of what is commonly called “old stock,” or as they are described in the act of 29 th March, 1819,' which were not forfeited in the late Delaware and Schuylkill, and Schuylkill and Susquehanna Canal Companies.
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This was an action to recover the arrears of an annual interest of six: per cent, due to the plaintiff, a citizen of the United States, on twenty-nine shares of what is commonly called “old stock,” or as they are described in the act of 29 th March, 1819,' which were not forfeited in the late Delaware and Schuylkill, and Schuylkill and Susquehanna Canal Companies. The cause was tried before Rogers, J. at Nisi Prius, on the 5th December, 1831, and a verdict taken for the plaintiff generally, subject to the opinion of the court on the evidence. . The several acts of assembly touching the…
1Opinion of the Court
The opinion of the court was delivered by
Huston, J.
This suit was brought by the plaintiff, who was one of the holders of what is called “old stock” in the Union Canal Company, to recover from the said company the arrears of an annual interest of six: per cent., alleged by the plaintiff to be due at the time of commencing this suit.
To understand the nature of this claim, we must refer to several acts of assembly: — The first is dated the 29th of September, 1791, entitled “ an act to incorporate a company for opening a canal and lock navigation between the rivers Schuylkill and Susquehanna,”…
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