IN RE PRUDENCE CO.

No. 360.

89 F.2d 689 (1937)

In re PRUDENCE CO., Inc. In re AMALGAMATED PROPERTIES, Inc. Application of PRESIDENT AND DIRECTORS OF MANHATTAN CO.

Circuit Court of Appeals, Second Circuit.

May 3, 1937.


Attorney(s) appearing for the Case

Carter, Ledyard & Milburn, of New York City (J. M. Richardson Lyeth and John P. Allee, both of New York City, of counsel), for appellant.

Thomas Cradock Hughes and Emanuel Celler, both of New York City (Irving Rozen, Irving L. Schanzer, Hubert Margolies, and Saul Siegenfeld, all of New York City, of counsel), for appellees.

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


MANTON, Circuit Judge.

January 9, 1931, a bond and mortgage were executed and delivered to the Prudence Company, Inc., for the principal sum of $675,000, bearing interest at 6 per cent. on premises in the Borough of the Bronx, City of New York. July 30, 1931, the Prudence Company, Inc., assigned the bond and mortgage to the Prudence-Bonds Corporation, which in turn assigned them to the Bank of Manhattan Trust Company as depositary under a deposit agreement. By the...

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