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WADLEY v. GAUNCE

No. 8266.

87 F.2d 379 (1937)

WADLEY et al. v. GAUNCE et al.

Circuit Court of Appeals, Fifth Circuit.

Rehearing Denied January 30, 1937.

Attorney(s) appearing for the Case

W. H. Sanford, of Dallas, Tex., and Conan Cantwell, of Jefferson, Tex., E. M. Bramlette and Carl W. Wade, both of Longview, Tex., and J. A. R. Moseley, Jr., of Texarkana, Tex., for appellants.

John Davis and Harry Preston Lawther, both of Dallas, Tex., and Clyde O. Eastus, of Fort Worth, Tex., for appellees.

Before SIBLEY, HUTCHESON, and HOLMES, Circuit Judges.

SIBLEY, Circuit Judge.

This appeal is taken from an interlocutory order appointing a receiver for a mineral lease of land on which appellants are operating oil wells. The order has been suspended pending our decision. Appellee Bailey Gaunce prior to April 30, 1935, owned the lease and sold fractional interests or "units" to about 1,412 persons, making to each a conveyance but reserving a power to sell the lease in his discretion and binding himself to remit to each...

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