Machine Tool & Equipment Corp. v. Reconstruction Finance Corp.

STEPHENS, Circuit Judge.

Appellant, an Arkansas corporation, instituted the instant action in the Oregon state court against the Reconstruction Finance Corporation, a corporation existing under the laws of the United States (herein referred to as R. F. G), seeking a decree declaring it to be the equitable owner of certain railroad materials, equipment and supplies, and requiring R. F. C. to transfer the legal title and possession to appellant upon the payment of the alleged agreed price of $32,453. The complaint alleged that R. F. C. had contracted to sell said property to the plaintiff for…