New England Mortgage Security Co. v. Addison

This action was brought in the district court of Dixon county to foreclose a mortgage upon real estate, the defense being usury. The cause was referred to Hon. Isaac Powers, who, after hearing the evidence, found that while the note and'mortgage were given for $300, with ten per cent interest thereon, that the makers received but $255, the remainder of the $300 being retained for commission. The referee also found that Addison at various times had paid interest on said debt amounting in the aggregate to the sum of $90. The report was confirmed and a decree of foreclosure rendered for the sum…