Shaeffer v. Sleade

— The proceedings in this case commenced with a bill in chancery to foreclose a mortgage filed by Shaeffer against Carr, the mortgagor, Prather, a junior mortgagee, and Matlack to whom the prior mortgage had been assigned in trust and for the use of the complainant. Answers were filed which admitted the execution of the mortgage by Carr, and that the debt which it was given to secure was unpaid; that the mortgage had been assigned to Matlack in trust for the complainant; and that it was prior in date to the mortgage held by Prather. At this stage of the cause, Shade, who had assigned to…