Borg v. Illinois Terminal Co.

PAGE, Circuit Judge.

This action was for damages for breach of a written contract between plaintiffs, a committee holding for foreclosure prior lien mortgage bonds of the Chicago, Peoria & St. Louis Railway Company, then in default, and defendant. A general demurrer to plaintiffs’ declaration was sustained, and judgment entered thereon.

The terms of the contract, so far as here material,-are: That plaintiffs should bring to a. judicial sale the property covered by the mortgage, and, if no bid was made at *989such sale satisfactory to plaintiffs, they would cause the property to be purchased in…