United States v. Charles E. Carson, Being the Same Person as Charles Edward Carson, and W. R. Ellis, D/B/A Ellis Livestock Commission Company

McCREE, Circuit Judge.

We consider herein an appeal by the United States from a verdict in its favor against defendant Ellis in an action for conversion.

Upon obtaining an operating loan under the Bankhead-Jones Farm Tenant Act, 7 U.S.C. § 1941 et seq., defendant Carson executed a promissory note payable to the United States in the amount of $18,000.00. This note was secured by a mortgage evidenced by a duly recorded “Mississippi Chattel Deed of Trust” on livestock and other chattels located in Mississippi. By the terms of the deed of trust, Carson agreed not to sell or encumber the covered…