New York Trust Co. v. Watts-Ritter & Co.

JSTORTHCOTT, Circuit Judge.

Bertha Consumers’ Company, hereinafter called the “Company,” is a Pennsylvania corporation, and, prior to the receivership referred to below, maintained and operated extensive coal mining properties in the states of Pennsylvania, West Virginia, and Kentucky. On or about June 1, 1924, it executed its first mortgage and deed of trust, hereinafter called the “Mortgage” to the New York Trust Company, as trustee (appellant), to secure an authorized issue of $2,000,000 of first mortgage bonds.

Upon the application of two of its general creditors, to which the Company…