City of Atlanta v. Grant, Alexander & Co.
Supreme Court of Georgia
Railroads. Corporations. Levy and sale. Executions. Illegality. Injunction. Judgments. Amendment. Lien. Before Judge Peeples. Fulton county. At Chambers.
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Railroads. Corporations. Levy and sale. Executions. Illegality. Injunction. Judgments. Amendment. Lien. Before Judge Peeples. Fulton county. At Chambers. August 20th, 1876. The City of Atlanta filed its bill against Grant, Alexander & Company, making, in brief, the following case: Complainant is interested in the corporation known as the Western Railroad Company, either as a stockholder or creditor, to the amount of $300,000 00. In the year 1854, said company was incorporated for the purpose of constructing a railroad from the city of Atlanta, through or near Villa Rica, or Carroll-ton, in…
1Opinion of the Court
Bleckley, Judge.
The franchise to be a corporation is what constitutes an artificial person. That is breath or being, and not property. You cannot sell it, any more than you can sell the life of a man. But things, and the right to use things for profit, are property, whether in the hands of a corporation or of a natural person. A chartered railroad is property. The rights and privileges conferred by charter to use it as an instrument of transportation, are also property; for they adhere to it as accessories or incidents, and adds to its value. Indeed, they give it its chief value. Without…
2Cited by16 opinions
- Georgia Railroad & Banking Co. v. Town of DecaturSupreme Court of Georgia · 1912
- Green v. Coast Line RailroadSupreme Court of Georgia · 1895
- Bank of Tupelo v. CollierSupreme Court of Georgia · 1941
- Latimer v. SweatSupreme Court of Georgia · 1906
- Georgia Power Co. v. City of DecaturSupreme Court of Georgia · 1931
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