Page:Federal Reporter, 1st Series, Volume 10.djvu/428

 416 FSDEBAIi BKPOBTEB. �in proper form a guaranty to the above effect, printed or engraved upon the certificiites of stock of the Metropolitan Company, and, as such stock certifi- cates are surrendered for cancellation and reissue, will, from time to time, at the request of the holder, renew such guaranty upon all reissued certificates." �It is then provided that the portions of the railway of the Metro- politan whieh were completed on the thirty-first of January, 1879, shall be deemed to have been operated from the close of business hours on that day by the Manhattan, and all such operation from and after that time shall be for the account of the Manhattan ; that the Manhattan shall run the railways, and keep them in repair and working order, and suppliod with rolling stock and equipment ; that, "in addition to the rental hereinabove provided," it shall pay all taxes, assessmenta, duties, imposts, dues, and charges which shall become payable by the Metropolitan, or be imposed on the leased property, or its business, earnings, or ineome; that the Manhattan will save harmless the Metropolitan against all expenses of operat- ing the railways, and all claims and suits for injuries to persons and property, or for causing the death of any person, or for any other thing in the operation or management of the leased property, or for any breach of contract by the Manhattan in carrying on the business, and will defend all suits and claims brought against the Metropolitan in respect of any matter arising out of the management or operation of said railways since January 31, 1879, and that, in case the Manhattan shall at any time fail to pay in full said cash rental, "or the guarantied dividend aforesaid, as the same shall become pay- able, or fail or omit to keep and perform the covenants and agree- ments herein contained, or any of them, and continue in default in respect to the performance of such covenant or agreement, or pay- ments, for the period of 90 days," the Metropolitan may enter on the leased railways and premises, and thenceforth hold, possess, and en- ]oy them as of its former estate, and, upon such entry, the interest of the Manhattan therein shall cease. The Manhattan then agrees with the Metropolitan that it will execute, acknowledge, and deliver "any and all instruments for the more effectually assuring unto the Metropolitan" "the payment of the cash rental and dividends herein- before reserved or agreed to be paid." On the same twentieth of May, 1879, an agreement of lease, in writing, was executed by the Manhattan and the New York, in like terms, in all respects, mutatis mutaudis, with the one between the Manhattan and the Metropolitan. �Under these agreements of lease the Manhattan proceeded to oper- ate the railways of the other two companies. On the second of July, ��� �