Kelley v. Post

The appellant sued the appellees upon a promissory note for $16,000, dated February 12, 18S9, payable ninety days after date, to the Union ¡National Bank of Chicago, and indorsed to the appellant.

The bank discounted the note on the day of its date, and then received from the makers of it, as collateral security, a note for $25,000, dated September 14,1888, payable one year after date, made by James J. West. West was the president and principal stockholder of the Chicago Times, the stock of which was $1,000,000.

All of the controversy in this case grows out of the mutations that the evidences…