Clark v. Wheeler

Aston, mortgagee, pledged the mortgage notes to the Fidelity Savings Bank July 21, 1915, as collateral security to a note for $2,953.63 then discounted for him by the bank. There is due the bank on the note discounted by it for Aston its face $2,953.63 with interest from July 14, 1919, the interest to that date having been paid by Aston. There is due on the mortgage notes pledged $2,953.63 and semi-annual interest from October 15, 1917. The amount due on the collateral as between the maker and payee exceeds the amount due on the debt for which it was pledged by nearly two years’ interest.…