Buffalo Loan, Trust & Safe Deposit Co. v. Medina Gas & Electric Light Co.
New York Court of Appeals
Appeal from a judgment and order of the Appellate Division of the Supreme Court in the fourth judicial department, entered December 30,1896, modifying and as modified affirming a judgment in favor of plaintiff, entered upon the report of a referee. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal from a judgment and order of the Appellate Division of the Supreme Court in the fourth judicial department, entered December 30,1896, modifying and as modified affirming a judgment in favor of plaintiff, entered upon the report of a referee. The nature of the action and the facts, so far as material, are stated in the opinion. The conclusion of the referee, that the transfer of the bonds by Stranahan to the plaintiff as collateral security for his own debt, was an unauthorized diversion thereof from the purposes for which they were issued, and did not give to the plaintiff title to the…
1Opinion of the CourtBartlett, J.
This action was brought to foreclose a mortgage executed by the Medina Gas Light Company to the plaintiff, the Buffalo Loan, Trust & Safe Deposit Company, as trustee, under date of September 15, 1886.
The action was instituted at the request of the German-American Bank of Buffalo, as alleged owner of ten bonds of a thousand dollars each, secured by the mortgage.
A joint answer was interposed on behalf of the Medina Gas & Electric Light Company and the Holland Trust Company of the city of Hew York.
The original mortgagor, the Medina Gas Light Company, was duly consolidated in 1891 with the Medina…
2Cases cited2 opinions
- Cromwell v. County of SacSupreme Court of the United States · 1878
- Railroad Co. v. SpragueSupreme Court of the United States · 1881
3Cited by17 opinions
- MacDonnell v. Buffalo Loan, Trust & Safe Deposit Co.New York Court of Appeals · 1908
- U.S. Radiator Co. v. . State of New YorkNew York Court of Appeals · 1913
- In re the Estate of SteinbergNew York Surrogate's Court · 1934
- Saranac & Lake Placid Railroad v. ArnoldNew York Court of Appeals · 1901
- Holmes v. Saint Joseph Lead Co.New York Supreme Court · 1914
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