School Dist. of Lepanto of Poinsett County v. First Detroit Co.

DEWEY, District Judge.

This is an action at law to recover the principal and interest alleged to be due on-bonds issued by appellant School District' of Lepanto of Poinsett County, Ark. The plaintiff in the original action was the First Detroit Company, Trustee, a corporation organized under the laws of Michigan, and jurisdiction is invoked on the grounds of diversity of citizenship. The face value of the bonds sued upon is $3,000, and the interest due to May 1, 1933, with the face value of the bonds, aggregated $5,650.56. The original answer of the defendants contains specific denials of the…