Union Trust Co. v. Monticello & Port Jervis Railway Co.
New York Court of Appeals
Appeal of A. F. Smith, from order of the General Term of the Supreme Court, in the second judicial department, affirming an order of Special Term, overruling exceptions, and confirming the report of a referee. This action was brought to foreclose a mortgage executed by defendant, The Monticello and Port Jervis Railway Company, to plaintiff", as trustée, to secure the payment of 500 coupon bonds of $1,000 each, with interest. The facts sufficiently appear in the opinion.
Read the full summary
Appeal of A. F. Smith, from order of the General Term of the Supreme Court, in the second judicial department, affirming an order of Special Term, overruling exceptions, and confirming the report of a referee. This action was brought to foreclose a mortgage executed by defendant, The Monticello and Port Jervis Railway Company, to plaintiff", as trustée, to secure the payment of 500 coupon bonds of $1,000 each, with interest. The facts sufficiently appear in the opinion. The lien of interest coupons is not affected by detaching them from the bonds. (Sewall v. Brainerd, 48 Vt., 364; Miller v.…
1Opinion of the CourtEarl, J.
The Monticello and Port Jervis Railway Company issued 500 bonds of $1,000 each, with interest coupons attached, payable quarterly, on the first days of January, April, July and October, and it executed and delivered to the plaintiff a mortgage upon its property to secure the payment of the bonds and coupons. Default having been made by the railway company, the plaintiff commenced a foreclosure of the mortgage; and the premises mortgaged brought, on a sale under the decree, less than the amount of the face of the bonds. A reference was ordered in this action, to a referee, to ascertain, among…
2Cases cited2 opinions
- Haven v. Grand Junction Railroad & Depot Co.Massachusetts Supreme Judicial Court · 1871
- Miller v. Rutland & Washington RailroadSupreme Court of Vermont · 1867
3Cited by27 opinions
- Ketchum v. DuncanSupreme Court of the United States · 1878
- Hollister v. . StewartNew York Court of Appeals · 1889
- Strickland v. MagounAppellate Division of the Supreme Court of the State of New York · 1907
- Anderson v. Pennsylvania Hotel Co.Court of Appeals for the Fifth Circuit · 1932
- Cameron v. TomeCourt of Appeals of Maryland · 1886
22 more not listed; retrieve them via the Exa API.