People Ex Rel. Attorney General v. Detroit Mortgage Corp.

Receivership proceedings for the Detroit Mortgage Corporation are pending in the Ingham county circuit court, in chancery, and Hon. Charles J. DeLand, ex-secretary of State, is its receiver. Among its assets is an apartment house in Detroit upon which there is a mortgage of $25,000, held by the Detroit Land Contract Company. Upon this mortgage, payments have been made from time to- time, and the receiver now desires to pay the balance due and secure its discharge. He claims the mortgage contract usurious, for the reason that when the mortgage was given, in addition to the six per cent,…