Fidelity Union Trust Co. v. Union Cemetery Assn.

The Union Cemetery Association was incorporated November 5th, 1909, under the Rural Cemetery Act. Samuel E. Renner was the promoter and served with others as the first trustees. Renner purchased a farm and a franchise was procured to operate a cemetery thereon. The land which he purchased he offered to sell to the trustees of the Association and agreed to perform certain acts in connection therewith. The Cemetery Association issued $1,000,000 in bonds in certain denominations at 6% payable semi-annually, the bonds to mature in twenty years, and to be secured by a mortgage on the land and…