Little v. National Bank
Supreme Court of Arkansas
Appeal from Polk Chancery Court; James D. Shaver, Chancellor; STATEMENT BY THE COURT. On the 20th day of November, 1908, the Mena Lumber Company, a domestic corporation, owning and operating a sawmill plant in Polk County, Arkansas, executed a mortgage to John Layson to secure the sum of $22,472.26, evidenced by a promissory note, as follows: $250 to be paid on the 1st day of January, 1909, and $250 on the 1st day of each succeeding month until the whole sum is paid.
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Appeal from Polk Chancery Court; James D. Shaver, Chancellor; STATEMENT BY THE COURT. On the 20th day of November, 1908, the Mena Lumber Company, a domestic corporation, owning and operating a sawmill plant in Polk County, Arkansas, executed a mortgage to John Layson to secure the sum of $22,472.26, evidenced by a promissory note, as follows: $250 to be paid on the 1st day of January, 1909, and $250 on the 1st day of each succeeding month until the whole sum is paid. The mortgage embraced the real estate, mills, teams, logs and lumber on hand of the Mena Lumber Company and .also all the…
1Opinion of the Court
Hart, J.,
(after stating the facts). In the case of Morton v. Williamson, 72 Ark. 390, it was held (quoting from syllabus) : “A mortgage embracing ‘all the lumber and logs now on the ground, and all that may be put on the ground and sawed by us until final settlement of our account’ with the mortgagees, being recorded, created a lien on any lumber subsequently manufactured at the mortgagor’s mill, though not in existence when the mortgage was executed, until the mortgagees’ account was fully settled.”
In that case the contention was between the mortgagees and subsequent purchasers of the…
2Cases cited12 opinions
- Thompson v. FairbanksSupreme Court of the United States · 1905
- Peabody v. LandonSupreme Court of Vermont · 1889
- Chase v. DennyMassachusetts Supreme Judicial Court · 1881
- Lund v. FletcherSupreme Court of Arkansas · 1882
- Martin v. OgdenSupreme Court of Arkansas · 1883
7 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Kenney v. HurlburtOregon Supreme Court · 1918
- Farrow v. FarrowSupreme Court of Arkansas · 1918
- In re T. H. Bunch Commission Co.District Court, E.D. Arkansas · 1915
- Wasson v. BeekmanSupreme Court of Arkansas · 1934
- Soule, Guardian v. First Nat'l Bank of Ft. SmithSupreme Court of Arkansas · 1941