Colonial Trust Co. v. St. John Lumber Co.
Supreme Court of Louisiana
Appeals from Eighth Judicial District Court, Parish of Franklin; R. J. Wilson, Judge. • Action by the Colonial Trust Company, trustee, against the St. John Lumber Company. From an order of seizure and sale, defendant and certain alleged stockholders and unsecured creditors appeal.
1Opinion of the CourtLand, J.
The two appeals are from the same order of seizure and sale. The first was taken by the defendant, and the other by alleged stockholders and unsecured creditors.
In May, 1909, the defendant • company by notarial act mortgaged and pledged all of its property to the plaintiff company, as trustee, to secure the issue of 350 (6 per cent.) coupon bonds of $1,000 each, divided as to maturity into 12 series, due at various dates from May 1, 1912, to May 1, 1923. '
The 27 bonds due May 1, 1912, were paid. Of the 27 bonds due May 1, 1913, only 9 were paid.
On April 17, 1914, the trustee notified the…
2Cases cited3 opinions
- Baker v. BakerSupreme Court of Louisiana · 1910
- Interstate Trust & Banking Co. v. Powell Bros. & SandersSupreme Court of Louisiana · 1910
- Penouilh v. AbrahamSupreme Court of Louisiana · 1892
3Cited by5 opinions
- State v. American Sugar Refining Co.Supreme Court of Louisiana · 1916
- Demasi v. Whitney Trust & Savings BankLouisiana Court of Appeal · 1937
- St. John Lumber Co. v. Federal Nat. BankSupreme Court of Louisiana · 1918
- Thomas v. ThomasLouisiana Court of Appeal · 1953
- Federal Land Bank v. HallLouisiana Court of Appeal · 1936