Cram v. Farmers' Loan & Trust Co.
The Superior Court of New York City
Appeal from a judgment entered at a special term, on a trial before a justice of this court without a jury, and from an order denying a motion for a new trial.
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Appeal from a judgment entered at a special term, on a trial before a justice of this court without a jury, and from an order denying a motion for a new trial. On the 1st of September, 1855, the Racine and Mississippi Railroad Company, who were chartered by the state of Wisconsin, executed a trust mortgage to the defendants, to secure six hundred and eighty bonds, issued to raise money for the construction of the road; the premises mortgaged being in Wisconsin, on the line of the railroad extending from Racine to Beloit. The plaintiff was the holder of two of such bonds, and brought this…
1Opinion of the Court
By the Court, Robertson, Ch. J.
No satisfactory reason has been afforded, from any thing in the papers before us, why the plaintiff and other bondholders of the eastern or Wisconsin division of the “ Racine and Mississippi Railroad,” are not entitled to all the proceeds of the sale of that branch of the road, in the suit in the United States court in Wisconsin, for the foreclosure of the mortgage upon it. It was a suit simply to foreclose such mortgage, which first ended in a decree of strict foreclosure, although subject- to redemption in five years after the completion of an addition to'…
2Cited by1 opinion
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