Scroggins Farms Co. v. Commodity Credit Corp.

TRIMBLE, District Judge.

This action was commenced in the Pulaski County Chancery Court, by Scrog-gins Farms Company, an Arkansas corporation, and is here by removal. The defendant corporation was organized in Delaware pursuant to certain acts of Congress, for the purpose of stabilizing prices on farm products, including cotton.

Pursuant to the provisions of the acts of Congress, and rules and regulations promulgated by authority thereof, certain producers of cotton stored in authorized warehouses cotton produced during the 1938 crop season. Using the warehouse receipts as collateral, they…