United States Installment Realty Co. v. DeLancy Co.

Taylor, C.

The plaintiff in this action was the defendant in a former action involved in these proceedings, and the defendant in this action was the plaintiff in that action. To avoid confusion we shall refer to them as the Realty Company and the De Lancy Company, respectively.

The De Lancy Company owned two apartment buildings in the city of Minneapolis, the first subject to encumbrances of $32,000, the second subject to encumbrances of $22,000. The Realty Company owned a large quantity of land in the state of Texas subject to encumbrances of $20 per acre. On May 11, 1916, the two companies…