Metropolitan Bank v. Godfrey
Illinois Supreme Court
This was a suit in chancery, originally brought in the court below, by Thomas W. Wason, against Benjamin Godfrey, Rebecca E. Godfrey, Henry Dwight, Jr., Charles S. Olden, and the Metropolitan Bank.
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This was a suit in chancery, originally brought in the court below, by Thomas W. Wason, against Benjamin Godfrey, Rebecca E. Godfrey, Henry Dwight, Jr., Charles S. Olden, and the Metropolitan Bank. The original bill filed by Wason, sets forth that the said Godfrey and one A. T. Cowman, who were partners under the firm of A. T. Cowman & Co., in the construction of the Alton and Sangamon Railroad, purchased of the said Wason and one Charles Wason, his partner, certain passenger, baggage, freight and gravel cars, for the sum of $26,650. • That, on the 7th day of May, 1851, he and his said…
1Opinion of the CourtBreese, J.
We think a fair construction of the contract, signed by Henry Dwight, Jr., dated October 3, 1851, reciting the conveyance of land by B. Godfrey to him, and certain bonds and stocks and personal property at the same date, entitles Godfrey to a re-conveyance of the land, and that they were conveyed to Dwight as security only, with the right to dispose of them, should it become necessary to do so, to raise means to complete the railroad.
The proofs abundantly show that they were not used, or needed for such purpose, but that, with the bonds, stocks, and other effects conveyed by Godfrey, Dwight…
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