N.J. Nat. Bk., C., Co. v. Lincoln, C., Co.

Petitioner is trustee (as successor to Guardian Trust Company, the original trustee) for the holders of interest-bearing bonds of Lincoln Mortgage and Title Guaranty Company (hereinafter called "The Mortgage Company"), under a trust indenture made January 3d 1927. Bonds to the amount of over $13,000,000 are issued and outstanding, secured by this identure and the collateral security pledged thereunder with the trustee. These bonds become due in 1937 and 1938.

The Mortgage Company has a paid in capital and surplus of $1,800,000. It was organized under the insurance laws of New Jersey and is…