Page:Federal Reporter, 1st Series, Volume 8.djvu/549

 COE V. CAYUGA LA.KE S. CO. 535 �"$10,000. AuBORA, N. Y., May 1, 1873. �"Five months after date, the Cayuga Lake Railroad Company promises to pay to the order of Henry Morgan, President, $10,000, at the oflice of Leon- ard, Sheldon & Foster, No. 10 Wall street, New York city, value received, with interest. The Cayuga Lake Railuoad Comfaky, �5 Seal of the Cayuga Lake ) " By Henry Morgan, President. �l Kailroad Company. \ �"T. Delafield, Treasurer." �AcrosB the back of each instrument was written the indorsement "Henry Morgan, President." The signatures to the two instruments were the duly-authorized signatures of the Cayuga Lake Eailroad Company, by the defendant Henry Morgan, as its president. The said instruments "were sealed with the seal of the company, which was duly impressed thereupon by the president and treasurer of said company, by its authority, at the time such signatures were made, and at that same time the indorsements upon the back of said in- struments of the words "Henry Morgan, President," were made by the said Morgan. He was, at that time, the president of said com- pahy. There was due demand of payment and refusai, and due notice thereof was given to said Morgan. At the time of the com- mencement of this action, September 16, 1879, the plaintiff was a citizen of Conneeticut, and said Morgan was a citizen of New York. Said company was a local corporation in the interior of New York, having its line of road on the shore of Cayuga lake. The said notes were so made and indorsed for the purpose of being taken to the city of New York to raise money upon for the use of the company. For such purpose they were delivered to Mr. James K. Cox, as special agent of the company, who took them to New York and there had them cashed by Mr. tfames E. Stillman. Said Cox received the money from said Stillman, took it home with him, and paid it over to the company for its use. �At the trial the defendant Morgan proved that the said instru- ments were, on or about the third of May, 1873, transferred by the agent and attorney in fact of said company to one James Stillman, who then was, and ever since has been, and still is, a citizen of New York, who discounted said instruments, and paid the proceeds thereof to said agent, who paid over the same to the treasurer of said com- pany; that the defendant Morgan was, on the said third of May, 1873, and still is, a citizen, of New York ; that, some time after the maturity of said instruments, they were sold and transferred by said Stillman to the plaintiff, and that the defendant had no benefit of auy part of the proceads of said instniments. The defendant there- ��� �