The Peoria, Atlanta & Decatur Railroad Company was incorporated as an Illinois corporation in 1869, to construct a railroad from Peoria, in Tazewell county, in a general south-easterly direction, through Atlanta, in Logan county, to Decatur, in Macon county. Such of the road as was constructed was built in 1873 and 1874, from a point five miles east of Peoria, on what is now the Wabash, St. Louis & Pacific Railroad, to a place called Maroa, on the Illinois Central Railroad, 13 miles north of Decatur. It did not reach either Peoria or Decatur, and the company owned no station grounds or terminal facilities at either place, but used, by lease, five miles of what is now the Wabash, St. Louis & Pacific Railroad, to reach Peoria, and thirteen miles of the Illinois Central Railroad to reach Decatur. On the twenty-fifth of April, 1872, the company executed a mortgage to James F. Secor, as trustee. The mortgage recited that the company had commenced to construct a railroad to extend from Cunningham's crossing, five miles from the city of Peoria, on the Toledo, Peoria & Warsaw Railway, thence south-east, to a point at or near the city of Decatur,' 'a distance of about sixty-seven miles;' and it covered the company's franchises, and its road and property, as constructed and to be constructed, acquired and to be acquired, 'commencing at Cunningham's crossing, five miles from the city of Peoria, on the Toledo, Peoria & Warsaw Railway, to the city of Decatur,' 'a distance of sixty-seven miles.' It was given to secure 1,300 coupon bonds of the company, of $1,000 each, payable to bearer, amounting to $1,300,000, carrying semi-annual interest at 7 per cent. per annum, and payable May 1, 1902. The mortgage provided that, on default continuing more than 60 days in the payment of any interest on any bond, the trustee, on the request of the holders of a majority of the bonds, might and should take actual possession of the mortgaged property, and operate the road, and receive its income, to pay the bonds, or, on the written request of the holders of at least one-half of the outstanding bonds, cause the mortgaged property to be sold at public auction, and convey it to the purchaser; and 'after deducting from the proceeds of said sale the costs and expenses thereof, and of managing such property,' apply the proceeds to pay the principal and interest of the bonds. The mortgage also provided that the trustee should 'be entitled to have proper compensation for every labor or service performed by him in the discharge of this trust, in case he shall be compelled to take possession of said premises and manage the same.' This mortgage was delivered and duly recorded.