The Pennsylvania Co. v. Broadway-Stevens Co.

The bill for present consideration is a foreclosure bill filed by the trustee-mortgagee of a mortgage which secures payment of the principal and interest of an issue of coupon bonds. No part of the principal of the bonds is yet due by their terms. By its bill complainant asserts the exercise of an option on its part to declare the entire principal debt due by reason of certain defaults of the mortgagor set forth in the bill, and seeks a decree to foreclose the equity of redemption of the mortgagor and for the sale of the mortgaged premises to recover the entire amount of principal and…