Court Case Over Sale of Racine, Wis., Water Works

Court Case Over Sale of Racine, Wis., Water Works

Judge Geiger, of the United States Court, at Milwaukee, has set June 23 for a hearing in an injunction suit brought by the Farmers’ Loan & Trust Company, of New York, to stop further proceedings in the purchase of the city of Racine, Wis., of the water works in that city. The trust company in asking for a perpetual injunction against the sale of the water works, alleges that it holds a trust deed from the Racine concern covering all their property to cover a bond for $1,200,000, and that the Racine company has no right to make the transfer, and seeks to stop proceedings towards the purchase by the city, until it is definitely decided whether the city or the water works will pay this mortgage. The trust company has petitioned to include the State Railroad Commission as a defendant in the suit as the commission made the appraisal and fixed the price the city was to pay for the Racine property.

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