Wheat

In this action there is an appeal by the plaintiffs and by the cross-plaintiffs, John and Cora M. Potter, from a judgment denying them equitable relief. The appeals were taken upon the judgment-roll, consisting of about 600 pages of transcript, and the contention of the appellants is that the findings of fact do not support the conclusions of law.

We have carefully read the transcript and the findings and they reveal facts so exceedingly 'complex and parties so numerous that we deem it expedient and necessary in the interest of clarity to set out herein only such portions of the findings as are necessary for an understanding of the main features of the' controversy.

On the first day of March, 1912, the Lone Pine Utilities Company, a corporation, hereinafter called the Utilities Company, issued its bonds in the sum of $100,000, payable twenty years after said date. All of said bonds were issued and are outstanding and are the bonds referred to herein as belonging to plaintiffs and some of the defendants. To secure the payment of said bonds, said corporation executed a deed of trust to the Los Angeles Abstract & Trust Company, as trustee, conveying to said trustee all property it…