Security Bank & Trust Co. v. Warren Light & Water Co.

This suit was brought in the chancery court of Bradley County on June 22, 1925, by appellants against appellees, Warren Light & Water Company and others, and afterwards amended so as to make, the Republic Power & Service Company a party defendant to the suit, to obtain judgment for $30,000 and interest on certain bonds, and to foreclose a mortgage executed to secure same upon the property described therein. These bonds were a part of an $80,000 ¡bond issue. The bonds and mortgage were executed by the president and secretary of the Warren Light & Water Company. The bonds contained a provision…