Abraham Lincoln Insurance v. Franklin Savings & Loan Ass'n

LAY, Circuit Judge.

This is an appeal from a judgment in favor of the Abraham Lincoln Insurance Company against the defendant Franklin Savings and Loan Association. An action was commenced for collection upon two investment certificates owned by the insurance company that had been issued by the Franklin Savings and Loan Association. The facts are more fully set forth in the district court’s opinion, reported at 302 F.Supp. 54 (E D.Mo.1969). We affirm.

On March 14, 1966, the defendant issued certificates Nos. 581 and 582, in the sum of $10,000 and $5,000, respectively, to the Dearborn National…