United States v. Joliet & Chicago Railroad
Supreme Court of the United States
1Opinion of the CourtJustice Douglas
By an indenture denominated a “lease,” respondent in 1864 granted, demised and leased to Chicago & Alton Railroad Co. all of its railroad property, real and personal. The “lease” was in perpetuity upon specified terms and conditions. The Chicago & Alton Railroad Co. covenanted and agreed, inter alia, to guarantee and pay quarterly to the holders of the fifteen thousand shares of capital stock of respondent an annual dividend of seven per cent on the par value of the shares; to deposit with a designated depository specified monthly sums to be placed to the credit of the stockholders and to be…
2Cases cited11 opinions
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