King v. Merchants' Exchange Co.

The bill in this cause was filed in the late court of chancery to foreclose two mortgages, executed by the Merchants’ Exchange Company to the plaintiff, as security for the payment of bonds of the company amounting in the whole to $700,000, issued for monies borrowed by them and expended in the erection of the exchange. The company and also several other of the defendants, appeared and answered the bill, and the cause, having been duly transferred to this court, was regularly brought to a hearing at the last June term. The counsel for the company did not attend, when the cause came on to be…