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ST. JOSEPH TOWNSHIP v. ROGERS

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83 U.S. 644 (1873)

16 Wall. 644

21 L.Ed. 328

ST. JOSEPH TOWNSHIP, v. ROGERS.

Supreme Court of United States.

March 10, 1873.

Attorney(s) appearing for the Case

Messrs. William Lawrence and C.B. Smith, for the plaintiff in error:

Mr. H.C. Burchard, contra:

Mr. Justice CLIFFORD delivered the opinion of the court.

Bonds, payable to bearer, issued by a municipal corporation to aid in the construction of a railroad, if issued in pursuance of a power conferred by the legislature, are valid commercial instruments; but if issued by such a corporation which possessed no power from the legislature to grant such aid, they are invalid, even in the hands of innocent holders.

Such...

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