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Decree Of Foreclosure Affirmed

Decree Of Foreclosure Affirmed image
Parent Issue
Public Domain
OCR Text

Lansing, Mich., Oct. 26. - Alexander Lewis and Jerome Croul, representing the stockholders of the oíd Detroit Gas Light company in their foreclosure proceedings against Camille Weidenfeldand the Uetroit Gas company, defeated the gas company upon nearly every point raised in the supreme court. The decree of foreclosure granted by the Wayne circuit court is affirmed as against all the property of the gas company. The amount of the mortgage was $1,000,000 and the purchase price of the plant was $1,450,000. Croul and Lewis represented the old company and Weidenfeld, who made . the purchase, ■ conveyed the proierty to the Detroit Gas company. Weidenfeld was made a party to the suit because he was the original contractor and he is held to be liable for any deficiency that may exist upon the sale of foreclosure. The New York Guaranty and Indemnity company is also a defendant in the suit, as it holds a subsequent mortgage on the gas company'a property.


Ann Arbor Argus
Old News