In Re Trusteeship Washington L. T. Co.

The Washington Loan & Trust Company, organized and incorporated under the laws of this state for the purpose of engaging in the business of issuing and selling mortgage bonds, debentures and other forms of obligations secured by real estate first mortgages and other securities, on or about October 5th, 1931, became insolvent, and the superintendent of banking was appointed receiver by the district court of Washington county to take charge of its assets and affairs.

The controversy now before us is twofold in character and, on the one hand, is between the appellant trustees and the appellee…