Bissit v. Kentucky River Navigation Co.

The act of March 1, 1865, entitled “An act to incorporate the Kentucky Biver Navigation Company,” under which the defendant corporation organized, authorized the county courts of the several counties bordering upon or interested in the navigation of said river to subscribe for and in behalf of their respective counties to the capital stock of said company, and levy and collect a tax to pay the same. County subscriptions were accordingly made to the amount of $775,000. These were supplemented by a subscription of $150,000 by the city of Louisville, $100,000 by Bissit & McMahon, and $2,-300 by…