In re New York Title & Mortgage Co.

This is a Schackno Act proceeding for the approval of a plan for the readjustment of the rights of holders of mortgage investments represented by series N-25 first mortgage participation certificates issued and guaranteed by the New York Title and Mortgage Company. These certificates represent interests in a mortgage on the premises located at 390 Riverside drive, borough *816of Manhattan, New York city, which have been improved by a fifteen-story apartment house. The mortgage was made in June, 1924, in the sum of $1,150,000, and the unpaid principal amount was subsequently reduced to $1,006,250.…