Thompson v. White Water Valley Railroad

Citations

• 132 U.S. 68
• 10 S. Ct. 29
• 33 L. Ed. 256
• 1889 U.S. LEXIS 1841

Syllabus

<p>A mortgage by a railroad company, which covers its entire property and also all property appertaining to its road which it might afterwards •acquire, is valid as to such after-acquired property; and, the bonds issued under it are a prior encumbrance on a part of the chartered line constructed, after the funds realized from the mortgage bonds-had been exhausted, out of moneys subsequently furnished by parties who took from the company a special lien upon the rents and profits of the section so constructed with their money.</p> <p>The doctrine that a vendor not taking security for the price of real estate sold by him holds in equity a lien upon the property for such price has no application to this case.</p>