McCubbins v. Virginia Trust Co.

NORTHCOTT, Circuit Judge.

This is a suit in equity instituted by the Virginia Trust Company and certain *985•named individuals, trusts, and corporations, herein referred to as the plaintiffs, against the appellants, herein referred to as the defendants, to foreclose on certain property upon which a deed of trust had been given to secure bonds held by the plaintiffs. The defendants answered, setting up the plea of usury under the North Carolina statute (Consolidated Statutes, § 2306). The court below denied the defendants’ plea of usury, from which action this appeal was brought.

On October 1, 1927,…