B1:1:KM..N v. HUDSON RIVER WEST SHORE RY. oo. 5
the defendant the V.’est Shore Hudson River Railroad Company, payable _
20 years from their date, with interest payable semi-annually on Decem~
ber 1st and June 1st. These bonds, with others of the same issue, are,
it is averred, secured by a deed of trust or mortgage of even date made
by said obligor company and the Hudson River West Shore Railroad
Company to the defendants Murdock and Duncan, as trustees, on cer-
tain premises and franchises particularly described therein. The de-
fendants are all citizens of the state of New York, and complainant’s suit
is brought to enforce his rights and equities as the holder of such bonds,
and as a ccstat que trust under said trust deed or mortgage. The entire
authorized issue of bonds of which the complainants form a part, was
2,000 bonds, aggregating $2,000,000, of which $841,000 were actually
issued. All have been extinguished except 144 bonds.
On September 16, 1867, the Hudson River West Shore Railroad Com-
pany was organized for the purpose of constructing, maintaining, and
operating a railroad, commencing at Pierrnont, Rockland county, and
terminating at Newburgh, Orange county, in the state of New York. It
duly located and adopted its route between these two points,-—a route
which passed across property belonging to the United States at West
Point on the Hudson river. By an act of congress, approved December
14, 1867, (15 St. U. S. 33,) the consent ofthe United States was given
to the said defendant the Hudson River West Shore Railroad Company,
to locate, construct, and operate its railroad on the shore line across the
property belonging to the United States government at West Point, in
the state of New York, upon such location, and under such regulations
as should be approved by the secretary of war. Thereafter said secre-
tary of war duly approved a location for the line across the government
reservation, and prescribed and approved certain regulations governing
and under which said railroad should be constructed and operated. On
October 26, -1867, the defendant the West Shore Hudson River Railroad
Company was organized "for the purpose of operating a railroad from a
point in the boundary line between the states of New Jersey and New
York on or near the west bank of the Hudson river, extending north-
wardly to the aforesaid village of Piermont, in Rockland county, N. Y.,
and intersecting with the Erie Railroad and the southern terminus of the
abovementioned Hudson River West Shore Railroad; also commencing
at the northern terminus of the aforesaid Hudson River West Shore
Railroad, as the same had been, was, or might thereafter be located, at
or near the city of Newburgh, Orange county, N. Y., and extending
northerly along the west bank of the said Hudson river, through the
counties of Orange, Ulster, Columbia, and Greene, and terminating at
~ Athens, in said county of Greene, state of New York, together with all
and singular the powers, rights, and franchises of a railroad corporation
incident thereto." Thereafter the West Shore Hudson River Railroad
Company located and adopted its said route. i
Prior to the making of the bonds and mortgage,-though at what pre-
cise date the bill of complaint does not disclose,—an agreement was
made between these two corporations, by which it was agreed that the