Pacific States Savings & Loan Corp. v. Schmitt

HEALY, Circuit Judge.

The appeal is from a decree in a suit to obtain a declaration that the plaintiff Reconstruction Finance Corporation is entitled to a lien upon stock of certain water companies claimed to be appurtenant to lands subject to a mortgage assigned to plaintiff. During the pendency of the action the mortgage was foreclosed and appellant, which had succeeded to the interest of the Reconstruction Finance Corporation, was substituted as party plaintiff.

The unchallenged findings of the trial court disclose the following: In 1930, and for many prior years, John G. Taylor owned lands…