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FIRST TRUST CO. OF ST. PAUL v. COMMONWEALTH CO.

No. 11092.

98 F.2d 27 (1938)

FIRST TRUST CO. OF ST. PAUL v. COMMONWEALTH CO.

Circuit Court of Appeals, Eighth Circuit.

Rehearing Denied August 15, 1938.

Attorney(s) appearing for the Case

Cyrus A. Field, of Fergus Falls, Minn., and Melvin T. Woods, of Sioux Falls, S. D. (N. F. Field, of Fergus Falls, Minn., and Theodore M. Bailey, John H. Voorhees, and Roswell Bottum, all of Sioux Falls, S. D., on the brief), for appellant.

E. B. Harkin, of Aberdeen, S. D. (Harold King, of Britton, S. D., on the brief), for appellee.

Before STONE, WOODROUGH, and BOOTH, Circuit Judges.

WOODROUGH, Circuit Judge.

This suit in equity was brought by the trustee under a trust indenture securing $80,000 of bonds by mortgage upon the electric utility properties of the Commonwealth Company, a South Dakota corporation, serving the municipality of Britton, South Dakota. It was alleged that the defendant had defaulted in the performance of the conditions of article III of the trust indenture; that said default had continued for a period of in excess of sixty...

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