Estabrook v. International Trust Co.
Massachusetts Supreme Judicial Court
Bill in equity, filed in the Supreme Judicial Court on February 10, 1915, by the holder of four bonds of the Ashland Emery and Corundum Company (hereinafter called the Ashland Company) against the International Trust Company to whom, as a trustee for the bondholders, the Ashland Company conveyed certain property in mortgage to secure the payment of the bonds, for an accounting as stated in the opinion.
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Bill in equity, filed in the Supreme Judicial Court on February 10, 1915, by the holder of four bonds of the Ashland Emery and Corundum Company (hereinafter called the Ashland Company) against the International Trust Company to whom, as a trustee for the bondholders, the Ashland Company conveyed certain property in mortgage to secure the payment of the bonds, for an accounting as stated in the opinion. Material portions of Article 4 of the mortgage trust agreement were as follows: “Section 1. The Company Further Covenants and Agrees that it shall and will on the tenth day of June 1909, and on…
1Opinion of the CourtDe Courcy, J.
The Ashland Company on June 10, 1904, executed a mortgage of certain specified properties to the defendant as trustee for the holders of an issue of two hundred and fifty twenty year bonds. This suit was brought in 1915 by the plaintiff, for the benefit of himself and other bondholders, to compel the defendant trustee to account for the proceeds of four certain sales of property covered by the mortgage. Only three of the properties *284included in the mortgage are involved in this suit, namely, all the shares of capital stock of the Diamond Mills Emery Company, all the capital stock of the…
2Cases cited5 opinions
- Warren v. PazoltMassachusetts Supreme Judicial Court · 1909
- DavisMassachusetts Supreme Judicial Court · 1903
- Digney v. BlanchardMassachusetts Supreme Judicial Court · 1917
- Minot v. BurroughsMassachusetts Supreme Judicial Court · 1916
- Holmes v. McDonaldIllinois Supreme Court · 1907