, 1873-09-30
How Jay Cooke & Co. Prevented Firm
from Keeping Their Promise.
Heavy Suits Against Defaulter Har.
per's Sureties.
"Nol Bnntlino III Trouble Tito Candy
War--A Reasuy Husband.


1t whom mortgagod. Mrs. Amanda s. In Hacho,
pleasant brunette Of % summers, camo horo to
mako living by koeping boarding-Louso.
She found some parties who wore just Boiling
out. having mado their fortune, of course, mud
who had some furniture to dispose of, which
Mrs. In Hache bought at throo or four times Its
value, paying part Of tho purchase money in
cash, and giving noto mud chattel mortgage for
tho remainder. But the boarding-houso WAS
failure. THO visions of wealth never changed
tlieir cloudy Hhapos to substantial roality, and
Mrs. In Haoho WIS Obliged to giyo 1t UP. She
consulted lawyer on llor right to soil to prop
erty, and WIS advisod TINT she could do it. 1t
was accordingly bid off at auction. But the timo
Of tho maturity Of the note md mortgage camo
round, payment WAS demanded, but refused, on
tho ground Of ITO funds. A criminal proceeding
was accordingly instituted, profeaaedly to vindi-
cate tho majesty Of tho law, but realY to compel
payment. Tho question ca1ne up, yesterday
morning, whether tho defendant Ind dono, or
could do, under the circumstances, tile crimo
charged, whether the mortgage WIS valid aud
binding. Messrs. Pago and PerlsiuB, who were
acting With tho Prosecuting Attorney, main
tatned TINT, by the law OF 1861.
woman had tho same right in regard to her
separate property as If eho was fomme solo.
She could buy sell, or mortgage as she pleased,
quoting a decision of Judge Thornton, which
appeared to uphold their theory.
Mr.. Pence, for defendant, md tho one who
had given her tho ad:ico, argued that tho net Of
1861 only gayc woman right to do whatever
was necessary to enable hor to oujoy the prop
orty, not to purchase, or givo 0 mortgage for
purchase-monoy. The statute under which tho
indictment is found Bays TINT If a person
Rolls property which Inns chattel mort
sa sa r II pose effs' the a %s' g abe ies s to e
msdemcanor, punishable With flno and imprlson~
mont. Now, this being tho case. tho note
for which tho mortgage was given is void,
and consequently tho Iaa through
fails. Was tho legal indebtedness a legal one,
that could 10 enforced against hor?
Tho Court hold that tho ctattol mortgage al
lowing tho 1nortgagor to retain possession was
creature Of statute law that. to make 1t q safe
mode Of security, recording was necessary, and
the ponal statute was further enacted to protect
tho mortgagoo. But If she has taken tho prop
erty, the vendor has, at common law, q lien, and
the 1nortgagor holds it in trust for tho mort
gagee and. If the note was not paid ut maturity,
she was in duty bound to havo tho property
ready to surrender 1t. Tho consideration Of tho
mortgage Was possession il nothing elso. 6ho
could not rcpldlate tic indebtedness md retain
the property. Tho property is in her possession
In trust capacity. Tho n1origagoo'B lion GU tho
property il good, whether the note could bo el-
forced or not, aud it aoems that there iB nothing
in tho decisions tllnt denies that there LGs been
in this case a clear violation OF the law. In rof
erence to tho question of legal advice, thoro iB
some doubt, but ns to tho moAning Of tho statute,
thero is no question.
Supreme Court Of our State. Judge Gary, on q
similar question Of 4 Judgment against a mar
ried woman on a noto, decided exactly the re-
verso, and tho present atatus Of the case is or
tremoly doubtful.
TLo Judge took until this morning to decide If
tho taking bona flde counsel would alter the LA
bility Of defendant.
D1LL Foit 1sJuSuT1oN AGAINST MORTGAGE sALE.
John E. Saylos mud Albert II, Walker filed q
bill against Frederick To gin and julius loHonthal
in the Superior Court, ~ enIoin Rosnnthal from
sallingsoino mortgaged property under tho power
gisen IN tho trust Decd It appears that in July,
1872, polzn sold compliments some property in
Laframboi's Reserve in CooE County, and an
other peco in the northeast fractional quartor Of
See. 27, DO, II, giving notes therefor, two Of
which wero payable July !, 1873,--one note on
each piece Of property. To secure the notes,
sulo was given in caao Of default, by
advertising onco week, for four
weeks, III some, newspaper in Chicago,
Default was made In tho payment OF tho first
notes. A notice OF sale was accordingly posted.
and. in accordance with tho written request Of
complainant, inserted in the Religio- Phllosophi-
cal journal Of Chicago, giving notice OF Balo
on Sept: 20, ut tho old Court-House Tho bill
tho Tr,steo not being justified in mixing such
sale, and complainnpts equity of redemption
taken from them. Tho notice is falBo and ille-
gal III that it charges that complainants aro In
Of interest on tile notos, whereas they claim
TINT tlo notes do not boar interest. Hccontl-
~, the notice atatos TINT II default ia made
in the payment Of any inatallmont. the whole
3rs{ haiti
claim that such is not tue fact, there not being
any such provision in tho trust decd, and il
therefore is false, and tue TIuAtoe not author
izod to sell tho promisos Conlplanants allego
but just Mt that timo 1ay Cooke i Co., "leaaing
bankers in the United Statos." failed, and their
fnilure wna followed BY that Of othors Tho bill
wakes eloquent hero, and gives q summary OF
the weeks uowst which III omitted. Under this
condition Of Affairs sayles & Waltor were unable
to finish tlleir arrangemoutB. They Rtato that Il
they could offer tIo sum thoy claim is duo it
would bo refused, Polzin anil Roscnthal claim
ing by the trust decd twieo as much. But, eyon
if they would pay the whole sum, they
Commercial National Bank, where it ia depos-
tied; and, in view Of tho situation, it would be
the duty Of tho Trustee to postpone tho salo, as
tageo,s price. isoaonthal, the Trustee, not hay
ing any discretion aB to tho time OF galo, re-
fuses to postpone without directions from Pol
gin. Complainanta therefore ask mn account Of
tho amount due discovery Of the notes, and
granted by Judge Gary on Q bond Of 81 600.
The reporter made IS discovery" of tho
notes, and asccrtained that tile uniform reading
WAS - with intcrost at por cent, payable ann,'-
three months. waiting on complana1ltB ploaBure.
THE CANDY WAR AGAIN.
In tho case Of 0unther against Maranaei, tho
defend1nt failing to appear on Saturday to