State National Bank of Shawnee v. Bates

TEEHEE, C.

The parties appear here as they appeared in the trial court. Plaintiff, as transferee on September 5, 1924, sued W. A. Bates and M. Pearl Bates as makers on a five-year promissory note for $3,500, and for foreclosure of a real estate mortgage given in security thereof. The paper bore date of March 1, 1921. Default in payment of any interest coupon matured the principal. The original payee, the Conservative Loan & Trust Company, on March 15, 1921, assigned the paper, with other .like transactions aggregating $25,000, to plaintiff as collateral security to an issue by the loan company…