Mortgage Loan Co. v. Townsend

The opinion of the Court was delivered by

Mr. Justice Blease.

South Carolina Loan & Trust Company, a banking corporation in the City of Charleston (hereinafter referred to as the Trust Company), on December 13, 1926, had among its assets a bond, the payment of which was secured by a real estate mortgage, executed by Thetis Realty Company, on which there was due, on the day named, as principal and interest, $12,914.79. On said day the Trust Company also owned and held a bond, the payment of which was secured by a mortgage of real estate, executed by Julia Huneken, and on which there was due that…