Adams v. St. Clair

The question presented for decision on this appeal is whether or not W. A. Blair, State Manager of the Appellant Home Owners’ Loan Corporation, an instrumentality of the United States created under an Act of Congress, known as the Home Owners’ Loan Act of 1933 (48 Stat. 128, 12 U. S. C. A., section 1461 et seq.) was vested with authority to appoint a substituted trustee, pursuant to a resolution passed by the board of directors of said corporation undertaking to authorize him to execute, under the corporate seal, the appointment of substituted trustees when necessary or proper in deeds of…