Logatto v. Olympic Bus Lines, Inc.

Complainant brought this suit to redeem certain stock in the defendant bus company, which had been deposited as security on his note, and which after default on the note has been sold and acquired by certain of the defendants. His bill contained the essential allegation that he was ready, willing and able to redeem this security by paying the amount of his obligation. After the suit had been at issue for several months without any steps being taken by complainant to bring it on to hearing, defendants made a motion to dismiss the bill on the ground, among others, that complainant was not…