John Wanamaker New York, Inc. v. Comfort

FOSTER, Circuit Judge.

In this ease the material facts, which are undisputed, are these:

The Forrest Hills Corporation, a Georgia corporation, built a hotel at Augusta, Ga., and on July 15, 1926, executed a mortgage and deed of trust on some 650 acres of land, on which the hotel was located, to secure an issue of bonds to the amount of $850,000, maturing annually, in various amounts, over a period of ten years. Later, on December 15, 1926, a chattel mortgage and deed of trust covering all the pajonal property of the company was executed as additional security for the bonds. Both deeds of trust…