DIY History | Transcribe | Building the Transcontinental Railroad | Hazard versus Thomas C. Durant legal draft report, Providence, R.I., September, 1880

Transcribe
Translate

Hazard versus Thomas C. Durant legal draft report, Providence, R.I., September, 1880

Page 17

5.
But after much reconsideration I am still unable to adopt this view.
His purchase was as a stock holder in the rail road company. the purchase was of bonds and stocks together, and it can hardly be said that the purchase money was paid more for the one than for the other. And it is plain that in this purchase Mr. Durant could not have directly used the moneys which he had from two to five years previously obtained from the Credit Mobilier unless it is to be assumed that being then indebted to it for these moneys he must be held to have so invested them. Indeed this is what the complainants claim, not only in this matter but, as already stated in respect to all the other stock and bonds issued to Mr.Durant to the amount in which he is found indebted to the company. But it seems to me that to assume this I should exceed and depart from the instructions of the decree and usurp the province of the court.

Saving...

5. But after much reconsideration I am still unable to adopt this view. His purchase was as a stock holder in the rail road company. the purchase was of bonds and stocks together, and it can hardly be said that the purchase money was paid more for the one than for the other. And it is plain that in this purchase Mr. Durant could not have directly used the moneys which he had from two to five years previously obtained from the Credit Mobilier unless it is to be assumed that being then indebted to it for these moneys he must be held to have so invested them. Indeed this is what the complainants claim, not only in this matter but, as already stated in respect to all the other stock and bonds issued to Mr.Durant to the amount in which he is found indebted to the company. But it seems to me that to assume this I should exceed and depart from the instructions of the decree and usurp the province of the court.