Talk:Fogg v. Blair (133 U.S. 534)

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Edition:	Fogg v. Blair, by the legislature of Missouri to construct and operate a railroad from some suitable point on the North Missouri Railroad, not exceeding 30 miles west of St Charles, in St Charles county, to some point near the mouth of the Des Moines river, on the northern boundary of the state Under its charter the company located its road between the points designated, and constructed a portion of it, and graded other portions, and in this work expended several hundred thousand dollars The appellant, Josiah Fogg, held a demand against this company for work and advances on its account, and on the 22d of September, 1870, an adjustment and settlement of the amount was had between them; and it was found that the company was indebted to him in the sum of $9,54775 Afterwards, on the 13th of June, 1872, a corporation known* as the 'St Paul, Hannibal & Keokuk Railroad Company' was formed under the general law of Missouri, to construct and operate a railroad, with one or more tracks, from the city of St Louis to a point near the north-east corner of the state, opposite to Keokuk, in Iowa, with a branch in Lincoln county, to its coal fields, from a point near Troy, and a branch up the valley of Mill creek, from a point where the line crosses the creek To this new corporation the old corporation, upon the request and direction of the holders and owners of a majority of its stock, on the 4th of March, 1873, sold and transferred its entire road, and all the branches, buildings, machinery, and appurtenances belonging to or connected with it In consideration of the transfer, the new corporation, that is, the St Louis, Hannibal & Keokuk Railroad Company,-among other things, agreed to assume, pay, and satisfy all the debts and liabilities incurred by the first company, or legally imposed upon it, for right of way, station grounds, ties, and bridging, and also to perform various contracts of that company which are specially mentioned The new corporation was composed principally of the same persons and the same officers as the old corporation, and among the contracts assumed was one with the Missouri & Iowa Construction Company for building the road, and it stipulated that in payment of this work bonds of the company should be issued secured by a first mortgage on its property Pursuant to this contract, the new company, on the 1st of October, 1872, executed to Dewitt C Blair, of New Jersey, and Clarence C Mitchell, of New York, a mortgage or deed of trust of its railroad, then constructed, or that might thereafter be constructed, with its right of way, buildings, and appurtenances then existing, or which might afterwards be acquired, its rolling stock and machinery of every kind, and all its franchises and property, to secure bonds of the company issued on that day, in sums of $1,000 each, to the amount of $4,200,000 Afterwards this mortgage was taken up and canceled, and on the 1st of August, 1877, a new mortgage or deed of trust was executed by the company to Dewitt C Blair, of all its property situated between the cities of St Louis and Hannibal, in Missouri, and its franchises, to secure the payment of its bonds issued of that date, amounting to $1,680,000 The interest was not paid upon these bonds, and the trustee, on the 6th of February, 1884, commenced a suitin the circuit court of the United States for the eastern district of Missouri, to foreclose the mortgage and sell the property The bill not only made the mortgagor a party defendant, but also certain persons named, of whom Josiah Fogg was one, representing that they claimed to have liens, as judgment creditors, incumbrancers, or otherwise, upon the mortgaged premises; but alleging that their interest, if any, accrued subsequently to the lien of the mortgage, and was subordinate thereto .
Source:	Fogg v. Blair from http://bulk.resource.org/courts.gov/c/US/133
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