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ARMSTRONG v. ALLIANCE TRUST CO.

No. 9366.

112 F.2d 114 (1940)

ARMSTRONG v. ALLIANCE TRUST CO., Limited.

Circuit Court of Appeals, Fifth Circuit.

Rehearing Denied July 8, 1940.

Attorney(s) appearing for the Case

Chas. F. Engle, of Natchez, Miss., and Hubert S. Lipscomb, of Jackson, Miss., for appellant.

H. P. Farish, of Greenville, Miss., for appellee.

Before SIBLEY, HOLMES, and McCORD, Circuit Judges.

SIBLEY, Circuit Judge.

This litigation has been long and devious, but may be simply outlined. Appellant, George W. Armstrong, of Texas and Mississippi, in 1919 borrowed of appellee Alliance Trust Co., Ltd., of Dundee, Scotland, through a broker in Memphis, Tenn., $125,000 on the security of his plantation in Mississippi of 20,800 acres. The principal was payable over a period of ten years, and drew interest at 6% evidenced by coupon notes before maturity, 8% after...

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