Stanton v. Alabama & C. R.
U.S. Circuit Court for the District of Southern Alabama
[This was a bill in equity by JohD C; Stanton and others, trustees, against the Alabama & Chattanooga Railroad Company and others.J Heard upon petition of certain bondholders. The case was this: The defendant company was a corporation of the state of Alabama, whose existence and franchises had been recognized by legislation in the states of Tennessee, Georgia and Mississippi.
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[This was a bill in equity by JohD C; Stanton and others, trustees, against the Alabama & Chattanooga Railroad Company and others.J Heard upon petition of certain bondholders. The case was this: The defendant company was a corporation of the state of Alabama, whose existence and franchises had been recognized by legislation in the states of Tennessee, Georgia and Mississippi. The company was authorized to construct and use a railroad running from Chattanooga in the state of Tennessee, across the states of Georgia and Alabama to Meridian in the state of Mississippi. An act of the legislature…
1Opinion of the Court
WOODS, Circuit Judge.
It is conceded that the petitioners are holders of the high numbered bonds for value and without actual notice of any infirmity attaching to them. These bonds are commercial paper, and as such are binding upon the railroad company when in the hands of a bona fide holder for value. Commissioners of Knox County v. Aspinwall, 21 How. [62 U. S.] 539; Woods v. Lawrence Co., 1 Black [66 U. S.] 386; Mercer Co. v. Hackett, 1 Wall. [68 U. S.] 95; Gelpcke v. Dubuque, Id. 175; Van Hostrop v. Madison City, Id. 291; Meyer v. Muscatine, Id. 384; Murray v. Lardner, 2 Wall. [69 U. S.]…
2Cases cited1 opinion
- Stanton v. Alabama & C. R. Co.United States Circuit Court · 1887
3Cited by3 opinions
- Atlantic Trust Co. v. Woodbridge Canal & Irrigation Co.U.S. Circuit Court for the District of Northern California · 1897
- Low v. BlackfordCourt of Appeals for the Fourth Circuit · 1898
- Lyman v. Kansas City & A. R.U.S. Circuit Court for the District of Western Missouri · 1900