Lowenstein v. Chicago Title & Trust Co.

This is a foreclosure suit. It is unusual because plaintiff seeks to subject the mortgaged property to satisfaction of judgments against formal guarantors of the mortgage paper, Seibert, Tompkins and Colomb, hereinafter referred to as defendants. The Chancellor sustained the motion of the defendant Elmore Co. and dismissed the amended and supplemented complaint for want of equity. Plaintiff has appealed.

The mortgage note for $3500.00 was executed by the Stony Island Bank on July 17th, 1928 due August 1, 1931. The Bank executed at the same time six semiannual interest notes. To secure these…