Girard Trust Co. v. Standard Gas Co.

Backes, V. C.

The mortgage under foreclosure was given by the defendant company to the complainant, as trustee, to secure a bond issue, of which there is now outstanding $601,700. The mortgage conveys the plant of the defendant company located in seventeen municipalities in Monmouth county to which, and the inhabitants thereof, it furnishes gas for heat and light. All of the company’s property, tangible and intangible, owned at the time of the execution of the mortgage, and to be thereafter acquired, was subjected to the lien of the mortgage in these comprehensive terms, after describing…