Samuel Blatchford

“ On the 12th of November, 1877, the board of supervisors made an order amending the order of December 13, 1876, subscribing $150,000 to the stock of the company, so as to read that the county, under the act of February 22, 1861, and in accordance with the vote of September 11, 1869, subscribed $100,000 to the stock, payable in bonds of the county at par, the bonds to be due 20 years after their date, and payable at the option of the county, after 5 years, and to bear interest at the rate of 8 per cent. per annum, payable semi-annually, and to be of the denomination of $1,000 each ”

“ The nine bonds involved in this appeal were purchased by the savings bank, at Davenport, Iowa,-four of them for 99 per cent. and accrued interest, on the 13th of April, 1880; and five of them at the same price, on the 15th of May, 1880. None of them, and none of the coupons on them at the time of purchase, were overdue; and the first installment of interest which fell due on them after they were purchases by the Savings Bank was duly paid by the county. ”

“ In that case the vote of the town of Concord, Ill., had been had on November 20, 1869, in favor of levying a tax to raise a sum of money as a donation to a railroad company, provided the company should run the road through two specified villages. ”

“ Bowler, 107 U.S. 529, 2 Sup. Ct. Rep. 704; and Oregon v. Jennings, 119 U.S. 74, 7 Sup. Ct. Rep. 124, are relied upon by the savings bank in this case, to sustain its view that the decree of the circuit court was erroneous. ”