Foster v. Richey

Prior to 1931, appellant, J. C. Poster, was indebted to appellee Mrs. William Richey, for borrowed money which indebtedness was secured by a mortgage on'a certain hotel property situated in the village of Haskell, Arkansas. This hotel property lies south of the highway which runs east and west through Haskell. When this indebtedness was first created Haskell was a more or less thriving village, but by 1931 the local sawmill industry which was its principal industrial interest had vanished.

At the time last referred to appellant’s mortgage debt to appellee was far past due, and the hotel…