Page:Federal Reporter, 1st Series, Volume 4.djvu/199

FARMEES' LOAN & TBUST CO. V. L. 0. & S. W. BT. 00. 185 �repairs of the companies, on or before the first day of Novem- ber, 1875, and they were to be increased in size and capacity as the business of the railroads might require. "And it ia further agreed by the parties to this agreement that should the said railroad companies, or either of them, fail to faith- f uUy and honestly perform ail the agreements in this contrad on their part, they, or either of them, shall pay to the city of Logansport, as agreed, and liquidated damages, the sum of |eO,000, without relief fromvaluation or appraisement laws." At the time this contraet was made, it was executed by the defendant company through its president, S. D. Sehuyler. Afterwards, and soon after this contraet was made, the Logansport, Crawfordsville & Southwestern Eailway waô placed in the custody of a receiver, by the order of this court. In September, 1874, the receiver, who had been president of the railway company, and who had executed this contraet as Buch, made application to this court to enable him to carry out the terms of the contraet, and on the third day of October, 1874, the court made an order in compliance with the appli- cation of the receiver. The order states that a portion of the road, viz., about five miles in length, extending from Glymer station to the city of Logansport, was unfinished, and that the same, when completed, would constitute part of the original Une of the road, and that it would then enare to the benefit of the mortgage lien hqlders on the road. The order refera to the fact that the construction of the bridge across the Wabash river, at the city of Logansport, was necessary. It also speaks of the fact that the city of Logansport had donated the sum of $80,Q00 to complete the unfinished portion of the road, and that the Detroit, Eel Eiver & Illinois Eailroad Com- pany was interested in the extension, and proposed to ad- vance and give in aid of the same the further sum of $16,000. The order refers to the sum of $95,000, composed of the $80,000 on the part of the city of Logansport, and $15,000 on the part of the Detroit, Eel Eiver & Illinois Eailroad Com- pany, which were to be advanced on behalf of the objeot which the receiver had in view. The order then proceeds to state : "And that the whole sum necessary, in addition to the ����