McIlwaine v. Ellington

SIMONTON, Circuit Judge.

This case is similar to that of These Complainants v. Iseley (C. C.; just decided) 96 Fed. 62. The loan was for $1,000 on 10 shares of stock secured by a mortgage of lands in Greensboro, N. C. The subscription in both cases was made in the same way, submitted through a local agent to the directors of the company at Knoxville, Tenn. And so, in like manner, the proposal for the loan, with the completed note and mortgage, was also presented and submitted for the consideration, determination, and acceptance of the directors at Knoxville; and after such consideration they…