Louis Brandeis

“ It is a suit to enforce a judgment. The prayer of the bill is that the property acquired by the New York Railways Company 'be declared to be subject to the lien of said judgment.' The rights on the original guaranty, whether they be treated, by virtue of the stamping on each bond, as an aggregation of 1,500 separate causes of action, or be treated as a single cause of action for the benefit of the 1,500 bondholders, were merged in that judgment. ”

“ Since the necessary realignment of the Trust Company as party plaintiff is fatal to the jurisdiction of the district court, it is unnecessary to consider the legal effect of the fact stipulated, that a large part of the bondholdersrepresented by plaintiffs are likewise citizens and residents of New York. ”

“ The customary bondholders' committee was formed, and 1,373 of the 1,500 bonds outstanding were deposited with it. At its request the Trust Company declared the bonds due and brought suit in the supreme court of New York to foreclose the mortgage. The court by special order granted an application of the Trust Company for permission to liquidate, in the foreclosure suit, its claim against the Metropolitan Company on the guaranty. For that purpose the Metropolitan Company was joined as defendant ”