50 FEDERAL ltEPOBTER.
ment of section 3 ofthe act of 1875, in regard to the nature of
the bond, extends to a ease sought to be removed under section 639 of
the Revised Statutes, and to that extent, at least, the act of 1875
repeals all prior acts on the subject; and that if the required bond
has not been nled the court has no jurisdiction. See, also, Burdick
v. Halc,7 Biss. 96.
There is, apparently, no distinction in principle between the case
of Torrey v. Grant Works and the case at bar. The reasoning in that
case is decisive of the question here involved.
It is insisted that no advantage can be taken of a defect in the bond
upon a motion of this character; that in order to avail themselves
of it defendants must make a_ formal motion to remand the cause.
S Even if the plaintiff is correct in this view, it would, it seems, be the
duty of the court, if convinced that the cause was improperly removed, .
to stay the proceedings until the defendants have had a reasonable
opportunity to make this motion. But, upon the authority of the
Torrey Case, the position is not welltaken. The question there arose,
not upon a motion to remand, but upon a motion, in effect, not unlike
_ the motion here. The question being one of jurisdiction, the defend-
ants can at all times take advantage of the defect. Should the case
remain and the plaintiff succeed, if confronted with the same objec-
_ tion in the supreme court, it might lead to areversal of his judg-
ment. l ‘
The motion must be denied. `
Dwrenr and others v. Smrru and others.
(Oircuit Uaurt, D. Vermont. July 22, 1882.
1. RA!LROADS—FIRST—MORTGAGE Bonus. t . ‘
When money applicable to the payment of drst-mortgage bonds of a railroad
V company hascome into the hands of the trustees for the bondholders, each
holder at that time becomes immediately entitled to the share of the money
applicable to his bond, and can immediately recover the same A i
2. SAME—RIGHTS or Bommomnmns. _ .
The question whether the boudholders, who have acquired their bonds since
money in the hands of the trustees applicable to the bonds accrued,`are entitled
to share in that money, depends upon the nature of the right, andiof the trans-
action by which they acquired the bonds. "“ ‘
3. SAME-Equrrnnnn Rmlmr. V — ' '
The debt for which the bonds issued wasa debt of the company, and property
in the hands of the trustees is security for that debt, and when the debts pass
the securities pass also, unless a contrary intention isshown, and the time when