Holland Trust Co. v. Thomson-Houston Electric Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by George W. Maslin and others, purchasers upon a sale in foreclosure of a mortgage, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the-clerk of the county of New York on the 10th day of April, 1901, directing them to pay to the referee in -the action for the use of the respondent the sum of $28,114.20, with interest and costs, to discharge certain coupons secured by the mortgage in question.
1Opinion of the Court
Ingraham, J.:
This action was brought by the Holland Trust Company as trustee to foreclose a mortgage made by the Thomson-Houston Electric Company to secure the payment of certain coupon bonds issued by the East River Electric Light Company, the name of the said company having been subsequently changed to the Thomson-Houston Electric Company. Upon the sale under the foreclosure the mortgaged property was purchased by the appellants for the sum of $50,000. The mortgage foreclosed was dated September 1, 1889, and was to secure bonds aggregating $600,000. These bonds' were of the denomination of…
2Cases cited1 opinion
- Manhattan Rubber Shoe Co. v. Chicago, Burlington & Quincy RailroadAppellate Division of the Supreme Court of the State of New York · 1896
3Cited by1 opinion
- Holland Trust Co. v. Thomson-Houston Electric Co.New York Court of Appeals · 1902