Bailey v. American National Bank

The Flanders Dry Goods Company was a Colorado corporation doing business in Denver. It became insolvent and on the 20th day of April, 1895, gave a mortgage to the American National Bank in the sum of fl5,000, and by the same instrument secured Arnold, Constable & Company, a New York firm, for 121,979.28. The mortgage was delivered in the evening of that day which was Saturday. The following Monday the company executed a general assignment of all of its property to Joseph E. Bates for the benefit of its *67various creditors. The mortgagees took possession and ultimately sold the stock to Howard…