Little Rock & Fort Smith Railway v. Huntington

Citations

• 120 U.S. 160
• 7 S. Ct. 517
• 30 L. Ed. 591
• 1887 U.S. LEXIS 1956

Syllabus

<p>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 over-due 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.</p>