Summary

Joseph McKenna Bankers' Trust Company v. City of Raton…

The only source of supply for the city's system is that of the waterworks company, and the city has taken possession of a portion of the reservoirs of the company, and such taking is a deprivation of the property of the company without due process of law. Other deprivations are alleged, and that the city has occupied with some of its works, the lands of the company more than two miles from the exterior boundaries of the city. The only source of income to the company is the system and lands thus taken.
Source: Wikisource

Joseph McKenna Bankers' Trust Company v. City of Raton…

It was ratified by a vote of the citizens of the town and accepted by the company. The company constructed a system in accordance with the contract and the act of its incorporation, and has performed its terms and conditions. And it has become the owner of valuable and extensive water rights, reservoirs, and reservoir sites.
On February 1, 1905, the waterworks company executed and delivered to the Manhattan company, and selected its present trust conveying all of the water company's, property, rights, privileges, and franchises to secure an issue of bonds to the amount of $30,000.
Source: Wikisource

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