City Bank Farmers Trust Co. v. Thirty-One West Seventy-Second Street Corp.

This case arises upon a claim of the City Bank Farmers Trust Company against a fund of $15,090 in the hands of the Central Hanover Bank & Trust Company, as trustee of a mortgage, two certificates of participation in which the .claimant owns. The facts are as follows: On July 15, 1931, the debtor executed an agreement with the Prudence-Bonds Corporation, which we shall speak of as a mortgage upon its real property in the sum of $1,457,250, although it merely consolidated a number of earlier mortgages upon the same property held by the same mortgagee. By way of amortization installments of the…