Farmers' Loan & Trust Co. v. Chicago &c. Ry. Co. - 163 U.S. 31 (1896)
U.S. Supreme Court
Farmers' Loan & Trust Co. v. Chicago &c. Ry. Co., 163 U.S. 31 (1896)
Farmers' Loan and Trust Company v. Chicago,
Portage and Superior Railway Company
Argued October 18, 21-22, 1896
Decided May 4, 1896
163 U.S. 31
The wrongs specifically charged in the bill in this case are those which were set forth in the suit of Angle v. Chicago, St. Paul, Minneapolis & Omaha Railway Company, 151 U. S. 1, but there is this difference between the two cases -- that in that case, the Omaha Company demurred, and on the demurrer a decree was entered against it, whereas, in this case, the Omaha Company took issue upon the charge of having committed such wrongs, and the testimony shows that it did not commit them.
The act of the Legislature of Wisconsin of 1882, revoking the grant of land to the Portage Company and bestowing it upon the Omaha Company, neither in terms nor by implication burdened the transfer with a continuing obligation for the debts of the Portage Company, and no creditor of the Portage Company had any legal or equitable right to any portion of those lands.
The case is stated in the opinion.