Anderson v. East Gate Temple Ass'n

This appeal presents a rather anomalous situation. In 1924, defendant issued its bonds in the amount of twenty thousand dollars. To secure them, it executed and delivered a trust deed to the Fidelity National Bank upon certain property in Spokane county. August 22, 1933, plaintiff, a bondholder, brought this action, on behalf of himself and other bondholders similarly situated, to foreclose the trust deed. He prayed for the appointment of a receiver pending the action. To that end, a show cause order was issued on the same day. Defendant demurred to the complaint on the ground that it did not…