Illinois Supreme Court May 12, 1887 (City of Chicago v. Cameron)

Mr. Justice Sheldon

delivered the opinion of the Court;

The La Salle and Chicago Railroad Company was incorporated, in 1867, for the construction of a railroad from La Salle to Chicago. The act of incorporation authorized the company to borrow money, to issue bonds, to sell them at such price as they should bring, and to mortgage its property and franchises to secure the payment of the bonds.