, 1861-10-28

U. =. CIRCUIT t0UAT-Jame8 i. So1stef, e.
az an6 b. tEa
strike from tie files the supplemental and
amended answer aud cross bill Of the Peoria
and OquaWka +. E. Co.
The caurt said, In substance, that some Of
the queationa argued upon the motion on the
proposed amendment were of 50 much grayi-
ty and Importance that he felt unwilling to
decide them upon motion Of this character.
It was proper that the amendment stating
that the road was finished from Peoria to the
east line Of the State; that large amount Of
ton Of the road !; and that q mortgage VAS
given thereon to s.cure the payment OF the
same: and that It was, with the Western part
Of the road from Peoria to the Mississippi,
one great, through, continuous rail road and
one indivieihle anchise, should be permitted
ments distinctly raised the question which the
counsel Of the Peoria and OQuaWka Railroad
Company desired to have decided at the final
hearing. The court stated thht he was willing
that this point thonld be fairly nlhde In the
pleadtngs, and therefore allowed the amend
mint.
At the same time he thought il but fair to
ssy, without committing himself to decision,
and leaving the matter open for the final
hearing, that ha thought 1t was the right
of the mortgages Of the roa3 from the Mis-
| siEEippl to Peoris, to have sale of tho
property mortgaged, it their debt was not paid.
| The Company ought not to ba permitted bY
| its Own action, as BY borrowing more money,
| end mortgsging other parts Of the road, to
throw any serious obstacle in the way Of the
! tic mortgage. The mortgages haYe the right
! to realize On their securities according to the
contract If sale we're made Of that part d.
the road west Of Peoria, the purchaser would
stand, IN come respects, in placa of the corpo-
ration. But still the corporation, with most
Of its essential attributes, would remain but
it's power and control over that part of the
read sold would, in q great measure, CEASE,
And yet he thought it quite possible, in case
Of such sale Of part Of great line oftrayel
ard business, the part might be 80 used
by the purchaser, or there might be such
affecting ipjurious1y the interests Of the
to warrant the interpretation Of Cours
cf Equity. But inasmuch as it would be in;
possible almost to anticipate all supposable
cases, the present strong impression Of the
Court Wss, the remedy should be sought fol
that the purchaser could not by acquiring g
ps1t Of the road deprive the public Of any d
their rights. If he sought to Interfere with o.
impair those rights, there would be ample
1emedy at law Or in equity: Until this wa
chaser held Eis lsrt Of the road at the mercy
Of the corporation merely because the legsla
FIRE had authorized the construction Of
great line Of travel
The Court also ruled that the amendmen
Hbich a7e1red that some interest had bee,
paid on the mortgage sought to be forecloset
should be permitted to stand in ths record.
! There was an amendment which stated il
substance that if the whole road was manage.
as one franchise and under one corporation
the debt cf the Who1s might In time be paid
! The C-urt thought # there was reasonabI
ground to believe that the sale Of the west eu
Of the road would eatiafy the debt due On tha
: Fart, it was the right Of the mortgages c
tbat part to hare their money. It was maj
ter (this amendment) resting too much in spf
, cEls1lo1-the evidence would be TOO vasu
: and indefinite. Suppose 1t should be tn
l opinion Of many men that in the course of
generation OF too, the road would pay all j!
debts, the mortgages might answer justl,
? they loaned their money to be repaid to then
l selves as agreed within q feI years, and not t
; their grand children. Inasmuch, therefore, 9
this part Of the amendment might cumbe
I the Gaze up with a great nass Of testison,
which, when taken, would in all psobabilis
!, throw no light upon the subject, this amen
! ment should not be permitted to stand. {
! ccurae1t would be the duty Of the court if
! eale were ordered at the fnal hearing to guz1
properly the interests Of all parties SO far 1
would be consistent with the equities OF all