'Railroad bonds are usually pledged by the President and Treasurer

of the railroad and by the Trustees, to whom the bonds are made
out, and who must defend the rights of bondholders, should the
company fail to meet any of the obligations it undertook in the
mortgage deed
'Railroad bonds are usually pledged by the President and Treasurer
of the railroad and by the Trustees, to whom the bonds are made
out, and who must defend the rights of bondholders, should the
company fail to meet any of the obligations it undertook in the
mortgage deed.