Shaw, McDermott & Sparks, Inc. v. Town of Danbury

(dissenting) — I find myself unable to agree with the majority and respectfully dissent.

It seems to me that this case is controlled by the recent opinion of this court in the case of Iowa-Des Moines National Bank and Trust Co. v. Dietz, 225 Iowa 566, 574, 281 N. W. 134, 139, opinion by Justice Hamilton. I quote:

“While there are plausible arguments which have been ably presented by appellants in support of the proposition that the mortgage rule should be applied, we are inclined to agree with the trial court’s conclusion. As long as the fund was solvent the order of payment of the ownership…