City of Troy v. A. & N. Railroad
Supreme Court of Kansas
Error from Doniphan District Court. The City of Troy filed its petition in the district court in March 1872, against the Atchison & Nebraska Rid.
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Error from Doniphan District Court. The City of Troy filed its petition in the district court in March 1872, against the Atchison & Nebraska Rid. Co., Frank M. Tracy, treasurer of said city of Troy, Alfred Q. Otis, R. A. Parh and James F. Joy, as defendants, to have a contract between said city and said Railroad Company, made October 21st 1870 declared a nullity, its further enforcement enjoined, and to recover back from Otis and Parh, naked trustees for accommodation of the parties, the sum of $416.60, paid on said contract by Tracy, as treasurer of said city to such trustees July 1st, 1871.…
1Opinion of the Court
The opinion of the court was delivered by
Brewer, J.:
Statement of case. In March, 1870, one Frank M. Tracy, a member of the council of the city of Troy, claiming to be duly authorized by said city, made a subscription to the amount of $50,000 in the name of the city to the capital stock of the A. & N. Rid. Co. In payment of half the subscription, $25,000 of the bonds of said city were issued. Thereafter, and on the 21st of October 1870, the city an(j company made a contract by which the city agreed to sell its stock and pay $6,000, in five-annual payments, on being released from its…
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