Lord v. . Yonkers Fuel Gas Co.
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the second judicial department, entered upon an order made December 24r1884, which affirmed a judgment in favor of plaintiff, entered upon a decision of the court on trial at Special Term.- The nature of the action and the material facts are stated in the opinion.
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Appeal from judgment of the General Term of the Supreme Court, in the second judicial department, entered upon an order made December 24r1884, which affirmed a judgment in favor of plaintiff, entered upon a decision of the court on trial at Special Term.- The nature of the action and the material facts are stated in the opinion. Corporations chartered under the General Manufacturing Act of 1848 are prohibited generally from mortgaging any of their property, and they are specially granted power, with consent of stockholders, to mortgage, for the single and only purpose of securing or paying…
1Opinion of the CourtRapallo, J.
This action was brought for the foreclosure of two mortgages made by the corporation defendant to the plaintiff as trustee for bondholders, the first of such mortgages being dated November 1, 1880, to secure the payment of forty bonds of §1,000 each, and the second being dated February 5,1881, to secure twenty like bonds of $1,000 each. All the bonds were payable to bearer on or before November 1, 1890, with semi-annual interest, and they recited that they were made to secure the payment of money borrowed by the company for ■the purpose of carrying on its business.
The two mortgages covered…
2Cases cited4 opinions
- Jones v. Guaranty & Indemnity Co.Supreme Court of the United States · 1880
- Rochester Savings Bank v. . AverellNew York Court of Appeals · 1884
- Greenpoint Sugar Co. v. . WhitinNew York Court of Appeals · 1877
- Carpenter v. . Black Hawk Gold Mining Co.New York Court of Appeals · 1875
3Cited by10 opinions
- Black v. EllisAppellate Division of the Supreme Court of the State of New York · 1908
- Leffert v. . JackmanNew York Court of Appeals · 1919
- Welch v. Importers & Traders' National BankNew York Court of Appeals · 1890
- Dock & Coal Co. v. JustinDistrict Court, N.D. New York · 1916
- London Realty Co. v. Coleman Stable Co.Appellate Division of the Supreme Court of the State of New York · 1910
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