Louisville v. Savings Bank
Supreme Court of the United States
Error to the Circuit Court of tbe United States for the Southern District of Illinois. This was an action brought by tbe Portsmouth Savings Bank against the township of Louisville, Clay County, Illinois, upon coupons detached from bonds issued Jan. 5,1871, by the supervisor and town cjerk to the Springfield and Illinois Southeastern Railway Company, which was formed in February, 1870, by the consolidation of the Illinois Southeastern Railway Compauy with the Pana,…
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Error to the Circuit Court of tbe United States for the Southern District of Illinois. This was an action brought by tbe Portsmouth Savings Bank against the township of Louisville, Clay County, Illinois, upon coupons detached from bonds issued Jan. 5,1871, by the supervisor and town cjerk to the Springfield and Illinois Southeastern Railway Company, which was formed in February, 1870, by the consolidation of the Illinois Southeastern Railway Compauy with the Pana, Springfield, and Northwestern Railroad Company. The bonds, fifteen in number, bear date April 1, 1870, and each recites that it “…
1Opinion of the CourtJustice Hablan
The bonds in question contain the same recitals as those of Harter Township in the same county, the validity of which was determined in Harter v. Hernochan, 108 U. S. 562. The same questions which arose on the validity, construction, and scope of the enactments under which they were issued, arid delivered to the consolidated company, are now presented for determination.. We perceive no reason for withdrawing or qualifying the conclusions we then announced.
There is, however, one question of some importance which did not then arise. It appeared in that case that the election held under the act…
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