In re Oyler

UNDERWOOD, District Judge.

This is a proceeding under section 75 of the Bankruptcy Act, as amended 11 U.S. C.A. § 203. On February 26, 1923, Alva L. Oyler and Caroline Oyler, his wife, executed and delivered ' a certain note and mortgage in the sum of $45,000 to the Kentucky Joint Stock Land Bank of Louisville, Ky.; the note bearing interest at the rate of 6 per cent, per annum, payable semiannually, and the mortgage covering 487 acres of land located in Licking county, Ohio.

Default in payment was made by the mortgagors June 1, 1932, and December 1, 1932. The mortgagee elected to precipitate…