North American National Insurance v. Holstrum

I. This is an action in equity upon a note for $17,700, executed September 2, 1920, by W.R. Holstrum, appellee, to the First Trust Savings Bank of Des Moines, and to foreclose a mortgage upon a tract of 160 acres 1. FRAUD: situated in Boone County, executed at the same false time, to secure the payment of said note. representa- $15,000 of the consideration for the note was a tions: part of the subscription price of 100 shares of interwoven the capital stock of the Great Republic statements Reinsurance Company of Des Moines. At the time as to future the first stock was subscribed for, appellee…