Central Trust Company of New York, as Trustee, Appellant v. the West India Improvement Company, Respondents

Summary

The Court of Appeals reversed the lower court, holding that the mortgage executed by the plaintiff covered the future stock and bonds, that the plaintiff's prior equitable lien was superior to the later assignment to the Manhattan Trust Company, that the noteholders were not bona fide purchasers for value, and that the complaint should not have been dismissed, warranting an injunction and a new trial.