Thompson v. Gorner

This is an action to foreclose a mortgage given to secure a promissory note. The appeal involves only a small amount of interest on the principal of the note. The note was dated March 20, 1888, and matured two years after date. The interest clause which gives rise to the present controversy is as follows: “With interest thereon, in like gold coin, from the date hereof until paid, at the rate of eight per cent per annum, payr able monthly, in advance, and if said principal or interest is not paid as it becomes due it shall thereafter bear .interest at the rate of one per cent per month.” The…