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Medford Historical Society Papers, Volume 16., A projected Medford railroad. (search)
stead) brought suits in the Supreme Court against the road, on the ground that the Stock had not been taken by responsible parties, as required by the Charter. Cahill, of Worcester, the contractor, who took [$] 55,000 of the Stock was proved to be bankrupt, his property in Worcester mortgaged, and he did not pay his mechanics in Worcester.—Yet Judge Myrick's decision was that as Cahill had complied with previous contracts he might comply with this and be able to pay for the stock!! and therefore was a responsible person. but although the relief the Messrs. Swan's sought for was not obtained from the Court, yet it was obtained from public opinion,— for after the disclosures made on the trial, of the entire bankruptcy of Cahill, and of the whole concern, they could not borrow or fleece the public out of another dollar,—they could get no more money to pay the laborers, and they consequently broke down and failed in July 185—just as they were on the point of entering Mr. Swan's la