Ohio Central R. Co. v. Central Trust Co.Annotate this Case
133 U.S. 83 (1890)
U.S. Supreme Court
Ohio Central R. Co. v. Central Trust Co., 133 U.S. 83 (1890)
Ohio Central Railroad Company v. Central Trust Company of New York
Submitted December 23, 1889
Decided January 20, 1890
133 U.S. 83
APPEAL FROM THE CIRCUIT COURT OF THE UNITED
STATES FOR THE NORTHERN DISTRICT OF OHIO
A bill in equity for the foreclosure of a mortgage of a railroad for nonpayment of overdue interest, the principal being payable at a future day, was taken pro confesso, the company appearing but not answering. A sale was made under the decree of the court, and, it appearing that there was a surplus over and above what was necessary to pay the overdue interest, costs and expenses, the court ordered it to be applied to the reduction of the principal sum due upon the bonds, and entered a decree that the balance of such principal sum remaining after such application was due and payable from the company to the holders of the bonds, and that the trustee recover it for them, with interest until paid.
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