Page:Federal Reporter, 1st Series, Volume 9.djvu/753

 738 FEDERAL REPORTER. �riglits, and on waking up many years afterwards find them in the same condition in whieh they were left. Even Eip Van Winkle, in a slower period and among a slower people, when aroused from his 20 years' slumbers in the recesses of the naountains in the neighbor- hood of "Sleepy Hollow," found that the world had "moved on." The observations of the ehief justice in Vance y. Burbank, 101 U. S. 520, are not inappropriate to this case. Among other things, he says, with reference to the facta of that case, "if any was in fact not sent forward, and Scott did not discover the onaission uutil within one year of the time of the commencement of this suit, he must have been grossly neglectful of his own interests." The same may be said of the com- plainant in this case. If the open, known, notorious facts sug- gested in the bill, and apparent upon the public records of the county, did not in fact put the complainant and his "grantor" upon inquiry, and lead them to a discovery of the frauds charged, at least su£B- ciently to afford as good a basis upon which to file a bill of discovery containing general and sweeping charges "upon information and belief " as that upon which the present bill rests, they must, indeed, "have been grossly neglectful of their own interests." �In my judgment, upon both grounds discussed, the bill fails to present any grounds for the relief oought ; and it is manifest, under the views expressed, that the bill cannot be truthfully so amended as to obviate the objections. The demurrer to the bill is sustained, and tae bill dismissed, Let a decree be entered accordingly. ���Hancock v, Toledo, Peoeia & Wabsaw E. Co. �(District Court N. D. JlUnoia. January 4, 1882.) �1. RArLiiOADS— Rborganization— Bill by CnsDiTOB. �Where an agreement was entered into between the holdera of the mortgage bonds and other creditors of a railroad corporation, af 1er proceedings had been instituted and were pending for the forecloaure of the mortgage liens on its property, whereby provision was made for the appointment of a committee, who were to obtain a decree of foroclosure in the ijending suit and purchase the raih'oad, its rights, privileges, franchises, and property for all the holders of bonds, stocks, and iadebtedness of the old Company, at the foreclosure sale ; for the incorporation of & new company ; for the delivery, by the holders, of the bonds, indebtodness, and stock of the company to a third party, subject to the order of the committee ; for the conveyance by the committee of its pur- chase to the new corporation, who should mortgage the same by giving first and second mortgages to secure the issue of a large amount of bonds, and who should issue stock; for giving (1) to the holders of the mortgage bonds of the old company, in place of their old securities, the new bonds, secured by the ��� �