Mississippi Valley Trust Co. v. Oklahoma Ry. Co.

PHILLIPS, Circuit Judge.

On January 3, 1911, the Oklahoma Railway Company,1 an Oklahoma Corporation, executed a trust indenture running to the Mississippi Valley Trust Company, as trustee,2 to secure $12,000,000 of First Refunding Mortgage 5 per cent Gold Bonds, of which $5,280,000 were issued. On September 25, 1939, and all material times thereafter, $2,447,000 of such bonds were outstanding in the hands of the public. Each of such bonds was in the denomination of $1,000. All of them were due on January 1, 1941. They bore.interest at 5 per cent per annum, payable semi-annually from date until…