Terre Haute & Indianapolis Railroad v. Indiana Ex Rel. Ketcham
Supreme Court of the United States
ERROR TO THE SUPREME COURT OF THE STATE OF INDIANA.' , The facts are stated in' the opinion of the court. • The State, having accepted an unconditional surrender of the company’s original charter, could not thereafter impose an obligation upon the company by virtue of power contained in the surrendered charter. The surrender was equivalent to the repeal of the charter with the consent of the company.
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ERROR TO THE SUPREME COURT OF THE STATE OF INDIANA.' , The facts are stated in' the opinion of the court. • The State, having accepted an unconditional surrender of the company’s original charter, could not thereafter impose an obligation upon the company by virtue of power contained in the surrendered charter. The surrender was equivalent to the repeal of the charter with the consent of the company. The repeal óf a statute takes away all powers which depend upon the' statute) that have not been exercised and are not reserved. Surtees v. Ellison, 9 B. & C. 750; Moor v. Seaton, 31 Indiana, 11;…
1Opinion of the Court
-Mr. Justice Holmes
delivered the opinion of the court.. This is a suit brought by the State of Indiana to, ascertain and to recover from -the plaintiff in error the total net profits made by the latter over fifteen per cent on the true cost of construction of its railroad, from the'time when the net earnings equalled that cost with ten per cent on the same added. The claim of the State was made under § 23 of .the charter of the railroad, approved January 26, 1847, and four acts of 1897 to be referred to. The complaint admits, and the answer sets up, a surrender on January 17, 1873, of the…
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