SUMMIT COAL CO. v. SOUTHERN COTTON OIL CO.

No. 5024.

24 F.2d 48 (1928)

SUMMIT COAL CO. v. SOUTHERN COTTON OIL CO.

Circuit Court of Appeals, Fifth Circuit.

February 6, 1928.


Attorney(s) appearing for the Case

Frank Dominick and A. G. Smith, both of Birmingham, Ala. (Stokely, Scrivner, Dominick & Smith, of Birmingham, Ala., and Ball & Ball, of Montgomery, Ala., on the brief), for appellant.

Leon Weil and R. E. Steiner, Jr., both of Montgomery, Ala. (Steiner, Crum & Weil, of Montgomery, Ala., on the brief), for appellee.

Before WALKER, BRYAN, and FOSTER, Circuit Judges.


WALKER, Circuit Judge.

While all the capital stock of the appellant, Summit Coal Company, a corporation which owned certain coal-mining properties, was owned by the appellee, and when the appellant was indebted to appellee in the principal sum of $136,000, the appellee sold all that stock to D. T. Buell, and thereupon, on February 5, 1921, the appellant executed to appellee a mortgage of said properties to secure said debt, which was divided into installments, payable...

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