McWhorter v. People ex rel. Chicago & Rock River Railroad

Citations

• 65 Ill. 290

Syllabus

<p>1. Municipal subscription — law authorizing subscription to capital stock of a railroad company does not authorize a rote to subscribe to a dirisionof the road. Where the charier of a railroad company authorized certain municipalities to subscribe to the capital stock of the company, and a vote was taken to subscribe to a certain division of the road: Held, that the vote was unauthorized, and the company could not compel the municipality thus voting to make the subscription to its capital stock.</p> <p>3. And where such company was authorized to receive such subscriptions, on such terms and in such amounts as it might deem best in accordance with its by-laws, and the company, in its by-laws, divided the road into divisions, and a subscription was voted by a township to the first division of the road: Held, that the charter of the company must govern, and as that only authorized the tax-payers to vote a subscription to the whole capital stock of the company, the vote was void, and conferred no right on the company to compel the subscription.</p> <p>3. Same—conditions in the notice of the election must he complied with. The charter of a railroad company authorized certain counties, towns, etc., to subscribe to its capital stock, upon an election being had upon the question, and a majority of the voters voting at such election voting in favor of the proposition. Under this, an election was called in a township to vote upon a proposition to subscribe $50,000, but the proposition contained a condition that the bonds to be issued in payment of the subscription should be such as to entitle them to registration, under the act of 1869. Under the latter act a majority vote of the legal voters living in the township was necessary to entitle the bonds to registration. The election had resulted in a majority of the votes cast in favor of the proposition, but not in a majority of „the legal votes of the township: Held,, that the condition precedent in the notice of the electio