New York Supreme Court June 15, 1859 (Miller v. New York & Erie Railroad)

Clerke, J.

The act of 1848, relative to railroad companies, enacts that all existing railroad companies in this State shall possess all the powers contained in this act (Laws of 1848, 221, ch. 140, § 46). That act (§17, sub. 10) allows them to borrow *434money to be applied to the construction of their railroads and fixtures.