Spies v. Chicago & E. I. R.

The bill alleges, in substance, that the defendant issued bonds of $¿1,000 each, to the amount of $1,000,000, by each of which it promised to pay the bearer the principal sum of $1,000 on the first day of December, 1907, and such interest on the first day of December annually, if any, as should be declared and fixed by the board of directors, not exceeding 7 per coni., in accordance with a deed of trust to a trustee pledging and appropriating the net income and earnings of the road of the defendant as security for the payment of the principal and interest: that the deed of trust provides that…