Joseph P. Bradley, United States v. Sioux City and Pacific Railroad Company…
“ It thus appears that, although the company made net earnings to the amount of $407,799.50, during the period covered by the time in respect of which the suit was brought, yet that they were all absorbed by the interest accruing on the first-mortgage bonds. According to the principles laid down in our decision, Union Pacific Railroad Co. v. United States (supra, p. 402) , the government cannot claim the five per cent which would otherwise be applicable to its subsidy. ”
