Dougherty v. Commonwealth Company

Carter and Boslahgh, JJ.,

dissenting.

We do not agree with the holding in this case that the loan in question violated the provisions of the Industrial Loan and Investment Company Act.

Section 8-419, R. R. S. 1943, which prohibits the splitting of loans “for the purpose of obtaining a higher rate of charge,” is not involved in this case because the second note bears interest only at the rate of 9 percent per annum. In Jourdon v. Commonwealth Co., 170 Neb. *338919, 104 N. W. 2d 681, which involved a series of loans, each bearing interest at the maximum rate, the court said: “If appellee had…