Wade v. Walnut - 105 U.S. 1 (1881)
U.S. Supreme Court
Wade v. Walnut, 105 U.S. 1 (1881)
Wade v. Walnut
105 U.S. 1
The court adheres to the decision of the Supreme Court of Illinois declaring that the provision in the existing constitution of that state, entitled "Municipal subscriptions to railroads or private corporations," took effect July 2, 1870.
This was an action brought by Wade against the Town of Walnut upon coupons cut from bonds purporting to be issued by the defendant, under the style of Township of Walnut, in the County of Bureau and Illinois. The declaration avers that each of the bonds contains, among other recitals, the following:
"This bond is issued under and by virtue of the charter of said Illinois Grand Trunk Railway Company, and amendments thereto and other laws of the Illinois, and in accordance with the vote of the electors of said township at the special election held August 6, 1870, in accordance with said charter and amendments and laws."
The defendant demurred to the declaration, and judgment was rendered in its favor. It is unnecessary to state the remaining facts, as the only question upon which this Court passed was as to whether, at the foregoing date, there was in
force an article of the Constitution of Illinois which is as follows:
"No county, city, town, township, or other municipality shall ever become subscriber to the capital stock of any railroad or private corporation, or make donation to, or loan its credit in aid of such corporation, provided, however, that the adoption of this article shall not be construed as affecting the right of any such municipality to make such subscriptions where the same have been authorized, under existing laws, by a vote of the people of such municipalities prior to such adoption."
Wade sued out this writ of error.