Metropolitan Trust Co. v. Tonawanda Valley & Cuba Railroad
New York Supreme Court
Appeal by the plaintiff from a portion of a judgment entered in Allegany county on the report of a referee. The action was brought to foreclose a mortgage made by the defendant, the Tonawanda Valley and Cuba Railroad Company, to James D. Fish, as trustee, to secure the payment of its bonds to the amount of $500,000; the plaintiff was afterwards substituted in' place of Fish as such mortgagee.
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Appeal by the plaintiff from a portion of a judgment entered in Allegany county on the report of a referee. The action was brought to foreclose a mortgage made by the defendant, the Tonawanda Valley and Cuba Railroad Company, to James D. Fish, as trustee, to secure the payment of its bonds to the amount of $500,000; the plaintiff was afterwards substituted in' place of Fish as such mortgagee. That railroad company was created by the consolidation of three companies before then organized, known as the Tonawanda Valley Railroad Company, tlie Tonawanda Valley Extension Railroad Company, and tlie…
1Opinion of the Court
Bradley, J.:
The plaintiff was at liberty to make the senior mortgagees parties defendant so as to have the amount secured by their mortgages ascertained and determined by the judgment, that they might be paid out of the proceeds of the sale, and their lien discharged, or that the sale might be made subject to the known amount of their liens. (Western Ins. Co. v. Eagle Fire Ins. Co., 1 Paige, 284; Vanderkemp v. Shelton, 11 id., 29 ; Holcomb v. Holcomb, 2 Barb., 20 ; Emigrant Industrial Savings Bank v. Goldman, 75 N. Y., 127.) The desire expressed in the complaint is to have .the amount of *525those…
2Cases cited9 opinions
- Albany City Savings Institution v. . BurdickNew York Court of Appeals · 1881
- Carpenter v. . Manhattan Life Ins. Co.New York Court of Appeals · 1883
- Kenney v. . ApgarNew York Court of Appeals · 1883
- Emigrant Industrial Savings Bank v. . GoldmanNew York Court of Appeals · 1878
- Vassear v. . LivingstonNew York Court of Appeals · 1855
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Smith v. HiltonNew York Supreme Court · 1888
- McCrea v. HopperAppellate Division of the Supreme Court of the State of New York · 1898
- Merritt v. GouleyNew York Supreme Court · 1890
- Washington Trust Co. v. Morse Iron Works & Dry Dock Co.Appellate Division of the Supreme Court of the State of New York · 1905
- Loew v. McInerneyAppellate Division of the Supreme Court of the State of New York · 1913
2 more not listed; retrieve them via the Exa API.