Mayfield v. First Nat. Bank of Chattanooga, Tenn.

ALLEN, Circuit Judge.

This appeal attacks a judgment of the District Court dismissing petitions filed by certain intervenors in a class action instituted against the appellee bank on behalf of various mortgage certificate holders. The intervenors set up alleged breaches of trust, misrepresentations, and illegal investments, and prayed for the recovery of the full amount of the funds claimed by them to have been invested through the appellee.

There is no controversy as to the background of the case, which is as follows: On January 12, 1933, the appellee had issued and sold, and had outstanding…