Dry Dock Savings Institution v. 103 East 75th St. Apartments, Inc.

The plaintiff-appellant, Dry Dock Savings Institution, is the holder of a consolidated bond and mortgage — originally in the amount of $350,000 — which is a lien upon premises now owned by the defendant-respondent, 103 East 75th Street Apartments, Inc. By this action the plaintiff seeks a declaratory judgment fixing 4% as the interest rate due upon its mortgage and payable at that rate by the defendant since November 1, 1943.

At Special Term the plaintiff’s motion for judgment on the pleadings was denied and judgment was granted in the defendant’s favor dismissing the complaint and adjudging…