Citations
- 113 F.2d 217
Full opinion text
KERNER, Grcuit Judge,
This action was brought by Chase National Bank (as trustee under a deed of trust) against (1) the city of Indianapolis and the individual members of its board of trustees and its board of directors for Utilities, (2) the Citizens Gas Company and (3) the Indianapolis Gas Company. Here-after Chase National Bank will be referred to as “Chase”; defendant (1) as the “City”; defendant (2) as the “Citizens Gas”; and defendant 3) as the “Indianapolis Gas.”
, ^ sued as traste? under a moxrt^e deed oí ^ secunnf Payment of Prl“cfal and m1lere^ of tAhe mortgage bonds Indianapolis Gas. Among other things Chasf sou^ht to reco™r Judfment for overdue interest on the bonds against all. of the defendants and also against the property formerly owned by Citizens Gas and now owned and operated by the City. Chase also sought a declaratory judgment holding that' a certain lease hereafter described is binding on all the defendants and dle ProPeri-y iusI referred to.
"I'Ile causc was tried by the District Court who made special findings of fact and pronounced its conclusions of law thereon. In substance the court concluded that the lease in question was invalid, and that Chase recover the sum of $1,032,-150 from Indianapolis Gas (this being the amount of overdue and unpaid coupons on the Indianapolis Gas bonds at the time °f the court’s decree). Chase and Indian-apolis each prosecuted separate appeals from the court s decree. These appeals have been consolidated and are now be-fore this court.
Both, Chase and indianapoIis Gas con-tend ^ thc District Court erred in hold_ ¡ the lease invalid and not binding Qn c£izens Gas and tbe Q Moreover, Chase contends that the District Court erred in failing to render judgment for unpaid coupons against all the defendants and thc property referred to above. These cpiEeiFip118 and others as well shall be con-sl - , * was that of Indianapolis Gas, which sup-, rtifi • , Shortlv after natural UAJ.CLL dl lllxLIcli w