Alexander City Bank v. Federal Land Bank of New Orleans

ANDERSON, Chief Justice.

The bill was filed by the appellant,- The Alexander City Bank, under the “Declaratory Judgment Act,” Gen.Acts 1935, p. 777, to settle or determine a controversy between the complainant bank and the Federal Land Bank as to the priority of their respective mortgages, and which incidentally affected the other respondents and cross complainants.

J. A. Eason, joined by his wife, executed to the Alexander City Bank a mortgage on his land. Subsequently, he made a mortgage to the Federal Land Bank'to secure a loan for the purpose of discharging the existing liens or…