Taylor v. Cheairs

This suit was begun in the Drew Chancery Court by W. E. Taylor, State Bank Commissioner in charge of the Bank of Commerce, MeGehee, Arkansas, an insolvent banking corporation, against John T. Cheairs, Jr., and wife, seeking’ to foreclose a mortgage given by Cheairs and wife to the MeGehee Yalley Bank, and later transferred to the Bank of Commerce.

John T. Cheairs, Jr., on the 8th day of March, 1920, made a promissory note to the MeGehee Yalley Bank for $9,000, said note being payable on tbe 15th day of November, 1920, and bearing interest at 10 per cent, per annum. To secure the payment of…