Guaranty Trust Co. v. New York & Queens County Railway Co.

On April 1, 1892, the Steinway Railway Company of Long Island City executed and delivered an indenture of mortgage and deed of trust, conveying to a trustee, in trust, its street railroad and appurtenant properties, to secure an issue of first mortgage bonds*in the principal amount of $1,500,000. The New York & Queens County Railway Company, having acquired the entire capital stock of the Steinway Railway Company of Long Island City, filed a certificate of merger on September 16, 1896, and became the owner of the Steinway railroad, subject to this mortgage. For the purpose of this mortgage,…