Bailey v. Poe

In April, 1920, Charles S. Bailey, brother of appellant, entered into a contract with the Metropolitan Savings Bank, to purchase the banking property at the Hortheast corner of Calvert and Lexington Streets, Baltimore, for $200,000, paying] $10,000 on account of the purchase money. The original contract provided for .a cash payment of $50,000 and a mortgage for $150,000. Subsequently the bank agreed to take a mortgage for $165,000. This left $25,000 to be raised by Bailey.

Bailey bought this property with a view to erecting- a large office building] on that corner, to take the place of the old…