Leighton v. New York Railways Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, George B. Leighton, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 16th day of August, 1915, resettling a prior order herein entered on the 6th day of August, 1915, and vacating an order entered on the 30th day of July, 1915, directing the examination before trial of all the defendants, except the Farmers’ Loan and Trust Company.
1Opinion of the Court
Clarke, J.:
This is a representative action, originally brought by the New York Life Insurance Company as plaintiff, suing in its own behalf as well as in behalf of all other similarly situated holders of income mortgage bonds of the defendant New *554York Railways Company. By the terms of said bonds the New York Railways Company covenanted to pay interest thereon at the rate of five per cent per annum if and to the extent that the net income of said railways company as defined and provided to be ascertained and determined in the mortgage securing said bonds, should suffice for said payment. Such…
2Cases cited2 opinions
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1885
- Weed v. First National BankAppellate Division of the Supreme Court of the State of New York · 1907
3Cited by1 opinion
- Taylor v. African Methodist Episcopal ChurchAppellate Division of the Supreme Court of the State of New York · 1942