District Court, N.D. Mississippi January 6, 1969, No. GC 6712 (First National Bank v. O/S Charlotte Ann)

OPINION

ORMA R. SMITH, District Judge.

On March 13, 1967 the First National Bank of Greenville, Mississippi, filed libel proceedings for ship mortgage foreclosure against the Oil Screw Charlotte Ann, owned by the Grafton Towing Company. The basis of the proceeding was a first preferred ship mortgage held by the Bank against the Oil Screw Charlotte Ann.