Ogden v. County of Daviess
Decision Date | 01 October 1880 |
Citation | 102 U.S. 634,26 L.Ed. 263 |
Parties | OGDEN v. COUNTY OF DAVIESS |
Court | U.S. Supreme Court |
ERROR to the Circuit Court of the United States for the Western District of Missouri.
The facts are stated in the opinion of the court.
Mr. Joseph E. Merryman for the plaintiff in error.
Mr. Willard P. Hall, contra.
On the 4th of January, 1860, the General Assembly of Missouri incorporated the Platte City and Des Moines Railroad Company, now, by statutory change of name, the Chicago and Southwestern Railway Company. Sect. 7 of the charter is as follows:——
' .
On the 4th of July, 1865, a new constitution of Missouri went into effect, sect. 14, art. 11, of which is as follows:——
'The General Assembly shall not authorize any county, city, or town to become a stockholder, in, or to loan its credit to, any company, association, or corporation, unless two-thirds of the qualified voters of such county, city, or town, at a regular or special election to be held therein, shall assent thereto.'
By an act to facilitate the construction of railroads, passed March 23, 1868, municipal townships in any county of Missouri were authorized to subscribe, through the county court of the county, to the stock of railroad companies, with the assent of two-thirds of the qualified voters of the township, and to pay their subscriptions with bonds in the name of the county, payable out of a special tax to be levied on the real estate of the township. On the 24th of March, 1870, the General Assembly amended this law by adding the following as sect. 7:——
After the passage of this act, the Daviess County Court, on the petition of the Chicago and Southwestern Railway Company, ordered an election on the twenty-first day of June, 1870, to obtain the assent of the 'taxable inhabitants living within a strip of five miles on each side of the line of said railway to be built through the county of Daviess, . . . to the subscription by the county of Daviess, for and on behalf of the taxable inhabitants of said strip, of the sum of $60,000 of the capital stock of said railway company, on such terms and conditions as' the court 'should deem proper.' Thereupon the court fixed, as one of the conditions of the subscription, that 'in payment of said subscription sixty bonds shall be issued by said county to the Chicago and Southwestern Railway Company, . . . of $1,000 each, payable ten years after date, with interest at the rate of eight per cent per annum, evidenced by semi-annual coupons,' &c. The election was held, and resulted in five hundred and sixty-eight votes for the subscription and four hundred against it. The county court subscribed the stock, and to pay the subscription issued and delivered to the company bonds in the following form:——
'UNITED STATES OF AMERICA.
'Daviess County Ten-year Bond, No. 3.
'In testimony whereof, the said county of Daviess, by order of its county court, has caused these presents to be executed by the signature of the presiding justice of said court, attested by the clerk thereof, with the seal of said county affixed, at office in Gallatin, Daviess County, Missouri, this twenty-seventh day of July,...
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