Railroad Reports Vol 25 PDF Download

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1896 edition. Excerpt: ... for the Ninth Circuit. Action by the United States against ane L. Stanford, executrix of Leland Stanford, deceased. From a judgment of the circuit court of appeals (70 Fed. Rep. 346), affirming a judgment in favor of defendant (69 Fed. Rep. 25), plaintiff appeals. Ajfirmed. Solz'cz'lor-General Canrad and Assistant /1ttorney-General.Dz'elez'nson, for the United States. _/osep/z H. C/mate, for appellee. Mr. Justice HARLAN delivered the opinion of the court. The United States seeks by this suit to establish a claim against the estate of Leland Stanford for $15,237,000. The deceased held and owned a inrgrc number of the shares PACIFIC RAILROADS 4 (N_'s_) United States v. Stanford of the capital stock of the Central Pacific Railroad Company of California and the Vestern Pacific Railroad Company, corporations that were organized under the laws of California, and which subsequently were consolidated and became the Central Pacific Railroad Company. Those companies received bonds of the United States that were issued, under the acts of congress known as the " Pacific Railroad Acts," in aid of the construction of a railroad and telegraph line extending from the Missouri river to the Pacific Ocean. The present demand of the government arises out of the obligation which, it is alleged, rested upon the companies receiving such bonds to pay the principal at maturity, and to reimburse the United States for all interest paid thereon. The bill proceeds upon the ground that, by the constitution and laws of California at the time the above corporations were organized, as well as when they received the bonds of the United States, each stockholder of a railroad corporation was liable, in proportion to the stock owned and held by him, for all of...