Central National Bank v. Bateman & Companies, Inc.

The Chancellor.

There is no controversy between the trustee under the indenture of mortgage and the individual bondholders who through a committee representing them have appeared by their solicitors. The bondholders take the same position as does the trustee. The receivers contend that the distribution of the sum allowable for the bonds should be, not to the trustee in behalf of all bondholders, but to each bondholder in the several amounts respectively found to be due them. In this, I think, the receivers are in error. The bonds on their face make reference to the mortgage for the rights of…