St. Louis Shipbuilding & Steel Company v. First National Bank and Trust Company of Vicksburg, Mississippi

RIVES, Circuit Judge.

The appellee First National Bank and Trust Company of Vicksburg, Mississippi, 1 filed its libel to foreclose a preferred maritime mortgage on the towboat Seneca, the amount of the mortgage debt remaining unpaid being $24,666.48. The appellant St. Louis Shipbuilding & Steel Company, 2 intervened to claim a superior lien for repairs, materials furnished and work and labor done upon the Seneca in the total amount of $3,939.50. The net balance of the proceeds of the sale of the Seneca came to only $11,334.85. The district court decreed that that entire amount should be paid…