Skeele v. Stocker

The material facts in this case are as follows:

Early in November, 1877, appellee Stocker gave to one Samuel Ward his promissory note, at one year, for $250, with interest at ten per cent., and secured the same by mortgage, which was promptly recorded.

Ward in the same month indorsed said note, and with it delivered the mortgage to appellants, who were merchants of Chicago, as collateral security for debt owing them by tiie firm of Ward & Pierce, of which he was a member.

Stocker was indebted to Mrs. Maunder in the sum of $100, unsecured, and desired a further loan, which she consented to make…