Oliver v. Rahway Ice Co.

Stevens, Y. C.

The bill is. filed to foreclose a mortgage made on August 31st, A. D. 1899, by the Rahway Ice Company to. complainant to secure the sum of $13,000. One j^ear thereafter the mortgagor paid the *597principal sum of $3,000, with a year’s interest. The complainant, Oliver, and his brother had been stockholders of the company, together holding three hundred shares of the par value of $100 each. On these shares $15,000 had been paid into the treasury of the company, and on the day above named the company had agreed to take them for what had been thus paid. Of this price $3,000 was paid in…