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PRUDENCE CO. v. FIDELITY & DEPOSIT CO.

7 F.Supp. 392 (1934)

PRUDENCE CO., Inc., v. FIDELITY & DEPOSIT CO. OF MARYLAND et al.

District Court, S. D. New York.

June 6, 1934.

Attorney(s) appearing for the Case

Alfred T. Davison, of New York City (Martin A. Schenck, Orrin G. Judd, and Ralph C. Williams, Jr., all of New York City, of counsel), for plaintiff.

Thomas E. White, of New York City (Joseph F. Murray, of New York City, of counsel), for defendants.

GALSTON, District Judge.

By stipulation this cause was tried by a jury of one.

On September 24, 1929, the plaintiff and the Central Park Properties, Inc., entered into a building loan agreement, by the provisions of which the Prudence Company agreed to lend the sum of $6,650,000. This loan was to be secured by a bond and mortgage as a first lien upon premises on the south side of West Fifty-Ninth street in the city of New York.

The borrower agreed...

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