Howard County v. Booneville Central National Bank - 108 U.S. 314 (1883)
U.S. Supreme Court
Howard County v. Booneville Central National Bank, 108 U.S. 314 (1883)
Howard County v. Booneville Central National Bank
Decided April 23, 1883
108 U.S. 314
When an act of the legislature authorized a county to subscribe for stock in a railroad or its branches, and the inhabitants of the county at legally convened meetings voted to exercise the power thus conferred, and the subscription was made, and county bonds issued therefor and exchanged for stock in a branch of the railroad for which the subscription was made, and the county, for a series of years, paid the interest on the bonds, and then resisted payment solely on the ground that the road constructed was not the road to whose stock the statute authorized the county to subscribe. Held, on the special finding found at the trial below, that the road is one of the branches for which the act authorized counties to subscribe.
Action to recover on coupons of bonds issued by the county
in payment for subscriptions to the stock of the Tebo & Neosho Railroad Company. The only controversy was whether the road as constructed was the road for whose stock the county was authorized to subscribe.