In re Prudence Co.

MANTON, Circuit Judge.

The Central Hanover Bank & Trust Company is a trustee under trust agreements dated July 1, 1925, and February 2, 1931, respectively, of the Prudence-Bonds Corporation, under which the Sixth Series of bonds and the Eighteenth Series of bonds of that corporation were issued and sold. By the terms of both trust agreements, the debtor herein guaranteed payment of principal and interest on the bonds when it became due and payable *424at maturity or within eighteen months thereafter, if unpaid. Nonpayment of the principal or interest was an event of default, upon the happening of…