“ The Wabash Company having become insolvent in 1885, the Farmers' Loan & Trust Company, for the purpose of enforcing their decree of foreclosure of October 22, 1880, filed a supplemental bill setting forth the proceedings subsequent to the decree, and the failure of the lessee company to pay the rental, alleging that it never was the intention of the bondholders under the first mortgage that their bonds should be canceled, or the decree of October 22, 1880, vacated or annulled, or the right to execute the same be in any way abrogated or impaired ”

“ Granting the general principles above stated to be correct, that a lien for taxes upon the property is a lien upon all the interests in such property, and that proceedings to enforce such lien will oust the mortgagees of their lien, we do not think the latter part of the proposition follows, that these bondholders or their trustees were privies to the suit in equity to enjoin such taxes. Indeed, it is difficult to see how the fact that the mortgagees would be bound in a proceeding by the state to enforce its lien for taxes would have any bearing upon the point in controversy. ”

“ The sale was made August 19, 1886, and was subsequently confirmed, and a deed executed by the master to Jesup and Thatcher, purchasers, who subsequently, and on November 26, 1886, executed a deed to the Keokuk & Western Railroad Company. ”