Harlow v. Larson

On and prior to May 19, 1921, appellants were indebted to the State Savings Bank of Logan, Iowa, upon nine unsecured negotiable promissory notes for various amounts, aggregating- $31,900. Some, or all, of these notes were held by correspondent banks, as collateral or rediscounts. On the above date, appellants executed three additional negotiable promissory notes, two for $10,000 and one for $11,900, securing the payment thereof by a mortgage upon 163.54 acres of land situated near the town of Logan in Harrison County. Contemporaneously with the execution of the three notes and mortgage, the…