David Josiah Brewer

“ Assuming that the first contention of appellant might be of force if the town had joined in the appeal, we are of opinion that it is a defense which the railway company alone cannot now make. By the decree, the rights of the town to that stock have been transferred to the plaintiff. The town not challenging the decree, it is final; and the plaintiff, in respect to the rights of the town in the stock, stands in the same attitude that he would if the town had voluntarily transferred it to him. The railway company has no interest in protecting the rights of the town. ”

“ The Illinois Grand Trunk Railway Company was incorporated in 1867, under a special charter granted by the legislature of the state of Illinois. On June 25, 1870, the town of Lamoille voted to subscribe to the capital stock of the railway company to the amount of $30,000, and to issue in payment therefor its bonds, payable in 10 years, of equal amount. On August 6, 1870, another election was held, at which the town voted to subscribe the further sum of $10,000 to the stock of the railway company, and to issue its bonds, in equal amount, in payment therefor. ”