O'Connell v. St. Louis Joint Stock Land Bank

Appellee is a joint stock land bank, authorized to do business under the Federal statute approved July 17, 1916 (Barnes’ Federal Code, p. 2229), and it instituted this action to foreclose a mortgage on lands, and to impound the rents and profits during the pendency of the suit by the appointment of a receiver in order to subject the same to the payment of the mortgage debt.

On June 24,1922, Thomas ¡W. Lacy executed to appellee a mortgage on the lands in controversy to secure a debt in the sum of $30,000 for borrowed money, evidenced by semi-annual installment notes in the sum of $1,050 each,…