Carter v. Finch

The St.. Louis Joint Stock Land Bank, hereinafter referred to as the hank, made a loan upon a farm in Pulaski County of $25,000, which was secured by a deed of trust describing the farm and reciting1 that there were 620.41 acres of land, more or less. The borrower made default in meeting- his payments, and, to save the expense and delay of foreclosure proceedings, executed a deed to one W. L. Bacon under the direction of the bank. The fact appears without serious question that Bacon was only a nominal purchaser and paid nothing for his deed. The obvious purpose was for the books of the bank…