Gallegos v. Smith

HANEY, Circuit Judge.

The court below dismissed a bill filed by appellants to obtain appointment of ancillary receivers in aid of a primary receivership in Arizona and to obtain a decree establishing a lien in appellants on certain assets in Oregon.

Intermountain Building & Loan Association, hereafter called Intermountain, was organized under the laws of Utah, and issued “Installment Savings Stock” certificates by which it agreed to pay a stipulated sum to the holder thereof upon a specified maturity date if the holder made the installments required thereby. The certificates contained the…