Nemaha Coal & Mining Co. v. Settle & Keith

The opinion of the court was delivered by

Johnston, J.:

This was an action to foreclose mortgages and adjust mortgage liens existing upon a tract of land in which the Nemaha Coal and Mining Company had an interest. That company was organized in 1885, to prospect for and mine coal and other minerals. In the following year, in prospecting for coal, it found what it supposed to be valuable mineral water at a depth of 57 feet, when it changed its plans, and some of its members projected the formation of another company, which should buy and own the land on which the well was located. Terms were…