Washington County v. Yazoo & M. V. R. Co.

Citations

• 125 Miss. 718
• 88 So. 284

Syllabus

<p>Rajiíroadis. Foreclosure of mortgage extinguishment of stockholders’ rights.</p> <p>Where a railroad company has issued bonds, the payment of the interest and principal of which are secured by a mortgage on its franchise and property, and default is made in the payment of the interest, and under the terms of the mortgage the franchise and property are sold, all rights of the stockholders in the railroad are by this foreclosure sale lost and destroyed.</p>