First Nat. Bank of Salem v. Salem Capital Flour-Mills Co.

This suit is brought by the First National Bank of Salem, hereafter called herein the “Salem Bank,” to enforce the lien of a mortgage given by the Salem (Oregon) Capital Flour-Mills Company, hereafter called herein the “Scotch Company,” to secure the payment of its note for $80,000.

William Stuart, who held a prior mortgage on the same property, executed by the City of Salem Company, hereafter called herein the “Oregon Company,” to secure the payment of $71,940, with interest, was made defendant. Ho appeared, and filed a cross-bill, in which he admitted the claim of the plaintiff, and asked to…