Harrison National Bank v. Pease

The opinion of the court was delivered by

Milton, J.:

This action was brought by the plaintiff in error on a negotiable promissory note for $600- and a real-estate mortgage securing the same, dated December 1, 1885, both executed by J. C. Chandler and wife and delivered to Levi Billings, president,, payee and mortgagee. Billings was president of the Cottonwood Valley Bank, of Cottonwood Falls, Kan., and this bank, being indebted to the plaintiff in error for borrowed money, transferred to the latter said note- and mortgage, with other commercial paper, as collateral security for the payment of…