Decker v. New York Realty Owners

Full title: EMMA DECKER and SYLVESTER P. DECKER, as Administrators, etc., of PETER…

Court: Appellate Division of the Supreme Court of New York, First Department

Date published: May 1, 1913

156 App. Div. 935 (N.Y. App. Div. 1913)

Opinion

May, 1913.

Appeal from a judgment dismissing the complaint at Trial Term.

Present — Ingraham, P.J., McLaughlin, Laughlin, Dowling and Hotchkiss, JJ.

Judgment affirmed, with costs, on the authority of Cass v. Realty Securities Co. ( 148 App. Div. 96; affd., 206 N.Y. 649). (Concurring memorandum by Hotchkiss, J.)

HOTCHKISS, J. (concurring):

If the decision about to be made is good law, then thousands of holders of various forms of income bonds, and of bonds providing for fixed rates of interest with participation in profits or in assets on dissolution, or in both, will be in jeopardy of having what they bought for obligations being turned into mere certificates of interest, but as I cannot distinguish this case from Cass v. Realty Securities Co. ( 148 App. Div. 96) I concur in the result.