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BARBANO v. CENTRAL-HUDSON STEAMBOAT CO.

No. 152.

47 F.2d 160 (1931)

BARBANO v. CENTRAL-HUDSON STEAMBOAT CO. CHASE NAT. BANK OF CITY OF NEW YORK v. CENTRAL-HUDSON STEAMBOAT CO. et al. (two cases).

Circuit Court of Appeals, Second Circuit.

January 12, 1931.

Attorney(s) appearing for the Case

Greenbaum, Wolff & Ernst, of New York City (Edward S. Greenbaum, of New York City, and Allen S. Reynolds, of Poughkeepsie, N. Y., of counsel), for appellants.

Murray, Aldrich & Webb, of New York City (Hugh L. M. Cole, of New York City, of counsel), for appellee.

Before L. HAND, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

SWAN, Circuit Judge.

Central-Hudson Steamboat Company, a New York corporation, in 1899 executed a first mortgage upon all its property to secure 500 5 per cent. bearer bonds of $1,000 each, maturing May 1, 1919. For convenience, this will be referred to as the first mortgage. In 1913 the steamboat company executed another mortgage upon all its property, also designated as a "first mortgage," although expressly made subject to the lien of the 1899 mortgage. The 1913...

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