West Nichols Hills Water Co. v. American-First Trust Co.

This is an appeal from a judgment of foreclosure obtained by defendant in error, hereinafter referred to as plaintiff or Trustee, against plaintiff in error, hereinafter referred to as defendant or Company.

The petition of plaintiff filed November 6, 1942, alleges in substance that defendant issued $50,000 of first mortgage serial -bonds dated December 1, 1940, payable to bearer at plaintiff’s office, said issue being evidenced by a series of 100 bonds, each in the principal sum of $500 bearing interest at the rate of 5% per annum, payable semi-annually on June 1st and December 1st. And that…