Wright v. First Joint Stock Land Bank

EVANS, Circuit Judge.

This appeal is from an order entered in a Sec. 75 bankruptcy proceeding overruling debtor Wright’s exceptions to a master’s report ordering a sale of an 82% acre farm located in Jay County, Indiana.

Debtor executed a mortgage on this farm for $3,000 in 1922. Upon default, foreclosure proceedings were instituted in the Indiana state court in 1933, and in 1934 debtor sought a composition with his creditors in the Federal court, which was unsuccessful. This was followed shortly by proceedings under Sec. 75 of the Bankruptcy Act, 11 U.S.C.A. § 203.

The following chronological…