Herzog v. Union Debenture Co.

The Ouster Realty Company, being the owner of real ('state in Custer county, conveyed the same by mortgage to the Union Debenture Company to secure the payment of 70 negotiable, interest-bearing coupon bonds of $500 each. The bonds were payable to bearer, and the Union Debenture Company sold and delivered one of the bonds to this plaintiff. Afterwards, the defendant, the Dierks Lumber & Coal Company, began an action in the district court for Custer county to foreclose several mechanics’ liens upon the mortgaged property. The Union Debenture Company was made a defendant in that action, and…