Talk:Chicago v. Union Rolling-Mill Company/Opinion of the Court

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Edition:	Chicago v. Union Rolling-Mill Company, January 8, 1876, by John B Dumont, a citizen of the state of New Jersey, against the Chicago & Illinois River Railroad Company, the Chicago Railway Construction Company, the Chicago & Alton Railroad Company, and the Union Rolling-mill Company, which for the sake of brevity will be called respectively the Illinois River Railroad Company, the construction company, the Alton Railroad Company, and the rolling-mill company, all corporations organized under the laws of the state of Illinois, and Bradford Hancock, as receiver of the construction company, and Corydon Beckwith, both citizens of the state of Illinois The purpose of the bill was the foreclosure of a deed of trust The bill averred in substance as follows: On March 1, 1875, the Illinois River Railroad Company, claiming to be the owner of a railroad constructed and being constructed between Joliet, Will county, and Streator, in La Salle county, in the state of Illinois, and the construction company, claiming to be the owner of certain lands in Grundy county, in the same state, entered into an agreement with the Alton Railroad Company by which the Illinois River Railroad Company leased its right of way and its railroad constructed and to be constructed, and all its other property, except engines and cars, to the Alton Railroad Company forever, upon certain terms and conditions therein mentioned Afterwards, on the same March 1, 1875, the Illinois River Railroad Company executed and delivered its bonds of that date, with interest coupons attached, 1,000 in number, and for $1,000 each, payable 30 years after date, with interest at 7 per cent, payable semi-annually, and on the same day, jointly with the construction company and John H Rice, its trustees, executed a deed of trust to George Straut to secure the payment of the bonds The deed of trust conveyed to Straut all the railroad owned or occupied by the Illinois River Railroad Company between Joliet and the Mazon river, and all the property of every kind, (except engines, cars, and tools,) however and whenever acquired by it, between said points, and the railroad company covenanted by said trust deed that it had a perfect title to the railroad and other property so conveyed, subject only to the lease above mentioned By the same deed the construction company and Rice, its trustee, conveyed to Straut its lands situate in Grundy county, Illinois, and covenanted that it had good title thereto, and that the lands were free from incumbrances Of said 1,000 bonds, only those numbered from 1 to 474, inclusive, and from 701 to 1,000, inclusive, were issued The interest on these bonds had not been paid They were all held either by bona fide purchasers or pledgees .
Source:	Chicago v. Union Rolling-Mill Company from http://bulk.resource.org/courts.gov/c/US/109
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