Samuel Blatchford

“ The statutes of New York authorized and justified it. The general power of a corporation to hold property in states other than the one which incorporated it, in the absence of statutory prohibition in such states, is firmly established. The Bankers' Company received the benefit of the August agreement, through which alone it acquired control of the Rapid Company. It enjoyed that control, took all the receipts of the Rapid Company's business, profited by the good will which that company had acquired, and thus obtained a benefit from the August agreement which is beyond its power to restore ”

“ It is well settled that a sale of real estate under judicial proceedings concludes no one who is not a party to those proceedings. Neither the Rapid Company nor the plaintiff was a party to the suit for the foreclosure of the mortgage of the Bankers' Company. ”