Incidents in the Life of Jacob Barker of New Orleans Louisiana With Historic

Cover Incidents in the Life of Jacob Barker of New Orleans Louisiana With Historic
Incidents in the Life of Jacob Barker of New Orleans Louisiana With Historic
Jacob Barker
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, from the time of the new borrowing, independently of stock with which it never was incorporated, although the holding of the stock on the day of the new borrowing was made the condition of its existence, and no subsequent act, amount- ing to a transfer of the stock itself while the government delayed to comply with its en- gagement, could vary the right, already per- fect, to have that engagement fulfilled, or could pass it to another.
"Asfar as analogy can be brought to influence this questi
...on, it is in favor of the claim of the holder of the stock when the new borrowing took place, and against that of a subsequent holder. Interest and dividends of stock already due are never understood, as, I believe, to pass by the sale of the stock which has produced them, and yet interest and dividends are the direct offspring of the stock and the sole ob- jects of it. The reason is, that interest, or a dividend already due, has acquired an existence separate from the stock from which it sprung, is no longer dependent upon it, and has given birth to a new right to which the continuance of the title to the stock itself is not in any de- gree necessary.

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