New York Security & Trust Co. v. Saratoga Gas & Electric Light Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, William V. Reynolds and another, from an order of the Supreme Court, made at the Schenectady Special Term and entered in the office of the clerk of the county of Saratoga on the 20th day of January, 1896, granting the plaintiff’s motion to confirm the report of sale herein and overruling exceptions of the defendants to said report, and holding that an undertaking, given pursuant to the first clause of section 1331 of the Code of Civil Procedure, did…
Read the full summary
Appeal by the defendants, William V. Reynolds and another, from an order of the Supreme Court, made at the Schenectady Special Term and entered in the office of the clerk of the county of Saratoga on the 20th day of January, 1896, granting the plaintiff’s motion to confirm the report of sale herein and overruling exceptions of the defendants to said report, and holding that an undertaking, given pursuant to the first clause of section 1331 of the Code of Civil Procedure, did not stay the sale directed by the judgment in the action. Also an appeal by the defendants, William Y. Reynolds and…
1Opinion of the Court
Parker, P. J.:
This action is brought to foreclose a mortgage executed by the Saratoga Gas and Electric Light Company upon its franchise and property, real, personal and mixed, whether then owned or thereafter to 'be acquired or constructed, to secure the payment of $300,000 of its bonds. The plaintiff holds the mortgage as trustee for the bondholders, and the foreclosure is asked for upon the ground that default having been made in the payment of the interest, the whole of such bonds had become due and payable. A receiver was appointed at the instance of the plaintiff to take and manage the…
2Cases cited1 opinion
- Genet v. President of Delaware & Hudson Canal Co.New York Court of Appeals · 1889
3Cited by4 opinions
- National Savings Bank v. SladeNew York Supreme Court · 1896
- Midwood Park Co. v. BakerAppellate Division of the Supreme Court of the State of New York · 1911
- Commercial Bank v. FoltzAppellate Division of the Supreme Court of the State of New York · 1898
- Commercial Bank v. FoltzAppellate Division of the Supreme Court of the State of New York · 1898