Dakota Trust Co. v. Lucky Strike Coal Co.

Birdzell, Ch. J.

This is an action to foreclose a trust deed given to the plaintiff by the Lucky Strike Coal Company. On March 25, 1921, the board of directors of the coal company passed a resolution authorizing the execution of a deed to secure an issue, of $50,000 of bonds. The deed was executed on March 25, 1921, and recorded April 13, 1921. It refers to and describes the obligations to be secured by it, reciting that the coal company is indebted to the holders of the indebtedness described in the principal sum of $50,000 as evidenced by 260 gold notes bearing even date, all maturing on…