First National Co. v. State-Planters Bank & Trust Co.

By deed dated July 1, 1925, and recorded on September 3, 1925, Edwards-Slaughter Company, Incorporated, conveyed to State and City Bank and Trust Company, now State-Planters Bank and Trust Company, as trustee, certain land, with the plant and equipment thereon, in Northumberland county, Virginia, to secure the payment of certain bonds in the aggregate principal sum of $60,000 with interest. This deed of trust likewise pledged as additional security for the payment of the bonds a note for the sum of $20,000, secured by a maritime mortgage on the S/S “M. M. Davis,” dated September 2, 1925, from…