New Orleans Canal & Banking Co. v. Hagan

The judgment of the court was pronounced by

Slidell, J.

It is unnecessary to recite the peculiar circumstances under which the numerous and conflicting interests presented by this record, have become the subject of discussion in one suit. It will suffice to state what the parties ask at our hands. The Canal Bank, having obtained an order of seizure and sale upon a mortgage note for $12,000, Preston and Adams claimed an interest in the proceeds of sale, as mortgage creditors to the amount of $68,000, and interest, not disputing, however, the validity of the mortgage in favor of the bank. They,…