First Nat. Bank of Atlanta v. Southern Cotton Oil Co.

FOSTER, Circuit Judge.

This suit was instituted by the Southern Cotton Oil Company by filing a bill in equity against L. B. Holt, individually and as trustee under a deed by C. G. Rawlings, conveying certain farm property to him as trustee to secure 55 notes, made by Rawlings, in the sum of $200,000. The suit was based on other notes given by Holt as trustee, indorsed individually by himself, for approximately $20,000, in payment for fertilizer and seeds bought by Holt and used in the cultivation of farms conveyed by the said deed. The bill alleged mismanagement, incompetency, and insolvency…