Cincinnati Gas & Electric Co. v. New York Trust Co.

The controversy here submitted to the court is as to the amount of the sinking fund installment required to be paid by plaintiff to defendant on April 1, 1924, pursuant to the provisions of the prior lien and refunding mortgage hereinafter referred to, being the first installment payable thereunder. Plaintiff claims that it made an overpayment of $30,000 on said date, being entitled to subtract $3,000,000, the face value of certain of its first mortgage bonds, in computing the amount of said installment.

There is no dispute as to the facts, but solely as to the legal conclusion to be drawn…