Cureton v. Wright

Hall, Justice.

All tbe property of the Rising-Fawn Iron Company was subject to two mortgages, designated as first and second mortgages, and each for tbe sum'of one-hundred and seventy-five thousand dollars. ' All tbe bonds, to secure .which the first mortgage was given, had been negotiated, but what portion of those the second mortgage had been made to secure had been disposed of, is somewhat uncertain, though, it is quite evident that a part of them had been put into circulation, and so this latter mortgage -as to them became operative. After this time, the company incurred large indebtedness…