Payson v. Iroquois Building & Loan Ass'n

Mr. Presiding Justice Higbee

delivered the opinion of the court.

This was a bill by appellee to foreclose a trust deed given by appellahts, Clara D. Payson and C. H. Payson, to secure the payment of the sum of $500 to the Iroquois Building and Loan Association, to which bill appellants and Oscar Martin, who is alleged to claim some interest in the premises in question, were made defendants.

It is charged in the bill that on July 13, 1894, appellant Clara D. Payson became a member of the Iroquois Building and Loan Association of Watseka, Illinois, subscribing for five shares of the capital stock;…