Northwestern Telegraph Co. v. Western Union Telegraph Co.

By agreement of May 7, 1881, plaintiff, a Wisconsin corporation, having a capital stock of $2,500,000 represented by 50,000 shares of the par value of $50 each, leased all its property to Western Union Telegraph Co. for a term of ninety-nine years from July 1, 1881; and for the use and occupation of such property Western Union agreed to pay to the owners of mortgage bonds issued by plaintiff the interest upon said bonds as it became due, and also to pay to plaintiff’s stockholders $100,000 the first year and an increased amount each year thereafter until the sum became $150,000 for the year…