N. M. Long Co. v. Kenwood Co.

WADE, District Judge.

The plaintiff, N. M. Long Company, a corporation, commenced this action on July 27, 1932, to foreclose a mortgage for $550, dated September 12, 1929, made by the defendant the Kenwood Company, a corporation, the charter of which had been forfeited for failure to pay its franchise tax for 1930, and its directors were made defendants, as trustees of its assets. Judgment by default was taken against all of the defendants except the Johansons (the appellants herein), who filed an answer alleging that during all of the time mentioned in the complaint they were the owners of…