Pink v. Thomas

Lawyers Title and Guaranty Company, the holder of a bond and mortgage for $42,300, between July 1, 1932, and until February 1, 1933, sold to the public participating shares therein, represented by certificates, which it guaranteed as to principal and interest. Throughout this period, although the company reacquired and resold some shares or certificates, it retained an interest in the mortgage to the extent of $1,825, which it never sold to the public. On February 1, 1933, it held also an interest of $100, reacquired after sale to the public, which both parties concede to be subordinate to…