People ex rel. Yates v. Attorney General

One of these relators holds bonds against the Detroit & Milwaukee Bailway Co., and the other an unsatisfied judgment against the Detroit & Milwaukee Bailroad Company, a second corporation succeeding to the first. A foreclosure having been had in chancery upon mortgages made by both of these companies, one of which secured the bonds in question, (neither of these relators being personally parties or in any way represented in the purchase at the chancery sale), an arrangement was made between the Great Western Bailway of Canada and certain of the bondholders for bidding off the mortgaged…