Manley v. Debentures "B" Liquidation Co.

The opinion of the court was delivered by

Cunningham, J. :

Up to March 18, 1893, and for some ten years prior thereto, the Kansas Trust and Banking Company, a Kansas corporation, was doing business in the city of Atchison. As a part of its business, it borrowed money from different persons, and issued to them its notes in the form of debentures, securing the same by a deposit of notes and mortgages on real estate with the First National Bank of Atchison, as trustee. Such real-estate mortgages and the notes which they secured were to be held by the trustee in trust to secure thb payment of these…