[Download] "St. John v. Erie Railway Company" by United States Supreme Court * eBook PDF Kindle ePub Free

February 05, 2021

eBook details

Title: St. John v. Erie Railway Company
Author : United States Supreme Court
Release Date : January 01, 1874
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 66 KB

Description

After the issuing of the preferred stock the new company took leases of several additional roads, some of which proved profitable and others not so; and borrowed 1,000,000, for which it gave sterling bonds bearing interest at the rate of six per cent. per annum, payable in gold. The money was borrowed for the repair and equipment of the roads of the company, and was expended accordingly. The company paid the 'delayed coupons,' and a dividend of five per cent. on all the preferred stock for the year 1863, and seven per cent. annually thereafter until the year 1868; but after that time paid nothing upon that stock. On the contrary, it paid, in preference, the rents on the leases, the new as well as the old, and the interest on 1,000,000 sterling loan, as well as on the old secured $20,000,000.