Morrison Waite

“ It is nowhere stated that the decree of the court was, but only what was sold; and inasmuch as the jurisdiction of the court was, by the terms of the act of 1870, expressly confined to an adjudication of matters of controversy 'touching the rights and interest of the State, and also of stockholders, bondholders, creditors, and others in said roads,' and to defining 'what shall be the rights, duties, and liabilities of a purchaser of the State's interest in said roads, . . . ”

“ We do not so understand that case. There it was 'distinctly adjudged,' by the Chancery Court of Nashville in the proceedings to enforce the statutory lien under which the sale was made, 'that not only the property of the old company, but all its rights, franchises, privileges, and immunities, as defined by the charter and laws, and the decree in the cause, passed to and vested in the new company,' which was the purchaser. ”

“ The Edgefield and Kentucky company was one of the companies in default, and it is averred in the present bill that, 'under a bill filed to foreclose the State's statutory lien upon the road and superstructure, equipments and stock, and the property owner by the company as incident to or necessary for its business, &c., . . . the road, its franchises, property, rights, privileges, immunities, &c., were sold,' and the St. ”