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TENNESSEE v. WHITWORTH

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117 U.S. 129 (1886)

6 S.Ct. 645

29 L.Ed. 830

TENNESSEE, v. WHITWORTH.

Supreme Court of United States.

Decided March 1, 1886.

Attorney(s) appearing for the Case

Mr. Samuel Watson, Mr. J.B. Heiskell and Mr. James M. Head for plaintiff in error.

Mr. Edward H. East for defendant in error.

MR. CHIEF JUSTICE WAITE delivered the opinion of the court. After stating the facts as above reported, he continued:

It is apparent from the charter that the subscribers of shares and those claiming under them were to be the holders of the stock of the corporation, and that the money paid into the treasury upon subscriptions was to be used by the corporation in building and equipping its railroad. In this way the capital of the corporation was to be converted into...

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