Portland Trust & Savings Bank v. Rosenberg

This is an action to foreclose a mortgage. From a decree of foreclosure, the defendants Allen have appealed.

The mortgage involved pledged two pieces of improved Seattle business property to secure a bond issue of $300,000. At the time the action was commenced, approximately $235,000 of these bonds were outstanding and in default. The mortgage named the Lumbermen’s Trust Company of Portland, Oregon, a corporation, as trustee, and subsequently the trustee changed its corporate name and became the Equitable Trust Company. Still later, the Equitable Trust Company was placed in the hands of a…