Bernard v. Madsen

This is 'an appeal from a judgment of foreclosure. The appellants demand a trial anew.

There is no substantial controversy as to the facts. In December, 1915 the defendant Madsen owned a quarter section of land in Mc-Henry county. He borrowed $850.00 of L. A. Crowell of Ruso, payable December 23, 1920, at the Eirst State Bank of Ruso, and secured the same by first mortgage on his land. The interest was payable annually and was evidenced by coupon notes. Crowell was the president of the First State Bank of Ruso, hereinafter referred to- as the Ruso bank. Madsen sold the land subject to the…