Babcock v. Town of Erlanger

SWINFORD, District Judge.

The question presented for determination is the right of a third party to intervene under Rule 24, Rules of Civil Procedure, 28 U.S.C.A. following section 723c.

The facts briefly are these:

The complainant, Reynolds and Company, entered into a written contract with the defendant, Town of Erlanger, to purchase water works bonds in the amount of $175,000. The contract was the usual contract of this character. The complainant, under the terms of the contract, advanced $41,000, less commissions, for the purpose of liquidating a "pre-existing obligation secured by a lien on…