Page:Federal Reporter, 1st Series, Volume 4.djvu/80

 66 FBBEBAIi B£FOBT£B. �plainant, and of sums for the Binking fund to the trustees thereof; but, if default is made in these payments, the trustees of the sinking fund shall, if requested in writing by the complainant, proceed to collect said debts, (that is, the debts of the transportation company,) and, out of the sums coUected, pay th* semi-annual interest, and hold the balance, if any, as part of the sinking fund; "and that ail of said sinking fund shall finally, at the end of said term, be applied to pay ail advances of the party of the fourth part; and, if any balance shall remain, the same shall be divided among the parties of the third part, in such proportion as they shall be entitled to; and, if said sinking fund shall prove insuffi- cient, the parties of the third part shall make up the de- ficiency out of the gross receipts from said business, brought by steamers, as aforesaid." �The bill alleges that when the agreement was made the complainant's road, equipments, and appurtenances had been leased and demised to the Vermont & Canada and Vermont Central Eailroads for 20 years, from March 1, 1870; that the complainant paid $600,000 to the parties of the second part, in accordance with the agreement; that the presidents and treasurers of the plaintiff and defendant corporations did fix and determine the amount to be paid semi-annually to the sinking fund; that the parties of the third part did, severally, thereafter pay the amount so fixed, in proportion to their respective shares of the gross earnings, until Geptem- ber 1, 1874, and have made no payments since that time, and that there remains due the complainant $393,000; that in January, 1875, proceedings were taken, by persons not parties to the agreement, against the Northern Transporta- tion Company, and in February, 1876, their steam-boats and other property were ail sold by order of court, and were no longer continued in said service of transportation; that the defendant company is bound to pay to the complainant such proportion of the sum remaining due them for advances as aforesaid, as the amount of gross earnings of the defendant from the said business bears to the total gross earnings of the parties of the third part. The bill alleges that this share is ����