A list of stockholders, entirely in Lincoln’s hand, filed as evidence in his first significant railroad case. Lincoln’s own appearance in the shareholder list represents only the second known instance of a stock purchase by the future president. The Illinois Supreme Court’s ultimate ruling in favor of Lincoln and the railroad set an important legal precedent, upholding the binding nature of a stockholder’s contractual and financial obligations. “The decision, subsequently cited in twenty-five other cases throughout the United States, helped establish the principle that corporation charters could be altered in the public interest, and it established Lincoln as one of the most prominent and successful Illinois practitioners of railroad law” (Donald, p.155).
