Little Rock & Fort Smith Ry. v. Huntington
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120 U.S. 160 (1887)
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U.S. Supreme Court
Little Rock & Fort Smith Ry. v. Huntington, 120 U.S. 160 (1887)
Little Rock and Fort Smith Railway v. Huntington
Submitted January 6, 1887
Decided January 24, 1887
120 U.S. 160
A mortgage of a railroad and of lands granted by Congress to aid in its construction to trustees which directs the trustees to apply moneys arising from the sale of the lands to the payment of the coupons attached to the bonds secured by the mortgage also authorizes them to purchase therewith overdue coupons which have been cut from those bonds and have been deposited with the trustees of the mortgage for the purpose of securing scrip issued to the holders of those coupons with the object of extending the payment of the amount due on them beyond the time of payment named in them.
Bill in equity. The case is stated in the opinion of the Court.