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PEOPLE'S SAV. BANK IN PROVIDENCE v. CHAMPLIN LBR. CO.

No. 681-A.

258 A.2d 82 (1969)

PEOPLE'S SAVINGS BANK IN PROVIDENCE v. The CHAMPLIN LUMBER COMPANY et al.

Supreme Court of Rhode Island.

October 31, 1969.

Attorney(s) appearing for the Case

Edwards & Angell, John H. Blish, for plaintiff.

Domenic Tudino, Gordon C. Mulligan, Letts & Quinn, Daniel J. Murray, Alan S. Flink, for Nathan M. Wright, Jr., amicus curiae.

Letts & Quinn, Daniel J. Murray, Alan S. Flink, Providence, for Nathan M. Wright, Jr., amicus curiae.

OPINION

JOSLIN, Justice.

This bill in equity was brought in the Superior Court to determine whether People's Savings Bank, the holder of first mortgages on two parcels of real estate, or The Champlin Lumber Company, the holder of subsequent encumbrances on the same property, is entitled to the surplus proceeds realized when People's foreclosed its mortgages. From a judgment1 in favor of Champlin, People's has appealed.

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