Central Trust Co. v. Kneeland

Citations

• 138 U.S. 414
• 11 S. Ct. 357
• 34 L. Ed. 1014
• 1891 U.S. LEXIS 2096

Syllabus

<p>When a railroad company is incorporated to construct a railroad between two cities named as its termini, a mortgage given by it which, as expressed, is upon its line of railroad constructed, or to be constructed, between the named termini, together with all the stations, depot grounds, engine-houses, machine-shops, buildings, erections in any way now or hereafter appertaining unto said described line of railroad, creates a lien upon its terminal facilities in those cities, and is not limited to so much of the road as is found between the city limits of those places.</p> <p>When a railroad mortgage contains the “after-acquired property” clause, the mortgage is made thereby to cover not only property then owned by the company and described in it, but also property coming -within the words of description and subsequently acquired, whether by a legal title or by a full equitable title; and there are no equities here to set aside that rule.</p>