Central Trust Co. v. Sheridan Beach Hotel Building Corp.

On April 14, 1926, the G-reenebaum Sons Bank & Trust Co. (hereinafter called the G-reenebaum Bank) as trustee, filed its bill in the circuit court against the Sheridan Beach Hotel Building Corporation (hereinafter called the Hotel Co.) to foreclose a chattel mortgage, dated February 11,1924, duly acknowledged and recorded on February 24,1924, and given by the Hotel Co. to further secure the payment of its 1,300 bonds, aggregating $650,000, all dated July 20, 1922, maturing at different dates thereafter (the last bonds maturing on August 1, 1932), and bearing 7 per cent interest per annum as…