Security Trust & Safe Deposit Co. v. New Jersey Paper Board & Wall Paper Manufacturing Co.

The opinion of the court was delivered by

Magie, Chief-Justice.

The attack on this decree, which is for the foreclosure and sale of mortgaged premises, is made upon a single ground. The contention is that the principal sum secured by the mortgage and included in the decree was not due at the time the bill to foreclose was filed or when the decree was made.

Whether the principal had become dué'or not depends on the law applicable to the following facts: The mortgage was made to respondent to secure the payment of one hundred bonds of $1,000 each and the interest thereon. Each of the bonds…