Willamette Manufacturing Co. v. Bank of British Columbia

Citations

• 119 U.S. 191
• 7 S. Ct. 187
• 30 L. Ed. 384
• 1886 U.S. LEXIS 1977

Syllabus

<p>It is witliin the power.of a legislature which creates a corporation and grants franchises to it, to authorize it to sell those franchises.</p> <p>A corporation which is authorized to sell its franchises is authorized to ' mortgage them.</p> <p>A statute which confers upon a corporation the right to take water from a river and to conduct it through canals, and the exclusive right to the ■ hydraulic powers and privileges created by the water, and the right to use, rent, or sell the same or any portion thereof, authorizes the corporation'to mortgage such powers and privileges.</p>