49 Barb. 441 | N.Y. Sup. Ct. | 1867
The conclusions upon the law, of the learned judge who tried this cause as a referee, upon the facts found by him, I think entirely correct. The decree upon the foreclosure of the mortgage of $300,000, given to Knapp & Townsend as trustees, &o. is, I think, binding and conclusive, as an adjudication, upon the defendants in respect to the subject matter in controversy, in this action. The mortgage, mortgage bond, and the certifi- " cate thereon indorsed, referred to in said decree, are all to be construed together. They are parts and parcels of the same . security. By the mortgage, the mortgagors grant, bargain, transfer and set over to the said trustees, the party of the second part, u all and singular the railroad constructed and to be constructed, with-the lands, tracks, lines, bridges, way buildings, piers, privileges and franchises, together with all the locomotives, tenders, cars, carriages, tools and machinery now-owned, or hereafter to be owned, by said company, or in any way belonging to or appertaining to said road and to-be used thereon, between Canandaigua and Jefferson.” This;
But if this decree were not binding upon them as an adjudication, the decision of this court upon the questions presented in that case and raised and litigated by the Elmira and Canandaigua and Niagara Falls Railroad Company on the express ground that said mortgage did not bind or hold the rolling stock of said Canandaigua and Elmira company, nor its property acquired after the date of the mortgage, is res adjudicóla. This question was then litigated, and this court decided the question, at general term, in favor of the plaintiff. (See MS. opin. of court in case of Knapp v. Can. and Elmira R. R. Co. 1859.) The question presented on the argument, of the construction and form of the
Being quite clear in the opinion that these plaintiffs are estopped from going behind this decree to bring into discussion anew the question of the original construction of the said mortgage to Knapp & Townsend, foeeclosed thereby, I have not thought, and do not think, it necessary to discuss the other question raised upon the argument. I will say, however, that I think the case, upon the whole, was properly disposed of by the referee, and that his conclusion upon the whole case is correct and sound.
The judgment should he affirmed, with costs.
Judgment affirmed.
Welles, E. D. Smith and Johnson, Justices.]