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EMPLOYERS' REINSURANCE CORP. v. BOSTON MUT. LIFE INS. CO.

No. 5826.

45 F.2d 593 (1930)

EMPLOYERS' REINSURANCE CORPORATION v. BOSTON MUT. LIFE INS. CO. et al.

Circuit Court of Appeals, Fifth Circuit.

December 6, 1930.

Attorney(s) appearing for the Case

William H. Clark, J. W. Gormley, O. O. Touchstone, and William H. Clark, Jr., all of Dallas, Tex. (Touchstone, Wight, Gormley & Price and Clark & Clark, all of Dallas, Tex., on the brief), for appellant.

Eugene P. Locke, Maurice E. Purnell, Albert S. Johnson, and J. N. Townsend, all of Dallas, Tex. (Locke, Locke, Stroud & Randolph, of Dallas, Tex., on the brief), for appellees.

Before BRYAN and FOSTER, Circuit Judges, and DAWKINS, District Judge.

BRYAN, Circuit Judge.

Appellant filed a bill in a federal District Court to foreclose a mortgage on an improved city lot in Dallas. The mortgage was given to a trustee to secure 250 bonds, each of the denomination of $1,000, and contained provisions to the effect that in the event of default the trustee was authorized, and, upon request of the bondholders of a majority in amount of the bonds, was under the duty to foreclose; that no bondholder should foreclose or...

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