Bailey v. Union Central Life Insurance

This is a suit for specific performance of a composition agreement between the plaintiff and the defendants, who are all of his creditors.

Plaintiff alleges in his petition that in the summer of 1934, he was indebted to the defendant, Union Central Life Insurance Company, in the sum of $11,250.00, which indebtedness is secured by a first mortgage on his 169 acres in Marion County, Iowa, on which indebtedness there was delinquent interest, and to the defendant, Joe Utterback, Receiver of the Knoxville Citizens National Bank and Trust Company, in the sum of $4,000.-00, which indebtedness was…