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IN RE CITY MORTGAGE CO.

25 F.Supp. 784 (1938)

In re CITY MORTGAGE CO.

District Court, D. New Jersey.

December 20, 1938.

Attorney(s) appearing for the Case

T. Raymond Bazley, of Long Branch, N. J., McDermott & Finegold, of Freehold, N. J., and William E. Blackman, of Trenton, N. J., for City Mortgage Co., debtor in possession.

Furst & Furst, of Newark, N. J., for Franklin E. Morales, trustee, appearing specially.

FORMAN, District Judge.

The City Mortgage Company, a New Jersey Corporation, hereinafter referred to as debtor, operated a mortgage business in the City of Long Branch, New Jersey. It issued and sold to the public bonds designated as "Guaranteed First Mortgage Participation Bonds" under a trust agreement plan entered into with Citizens National Bank of Long Branch whereby the latter agreed to act as trustee for the holders...

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