, 1877-11-07

roRECLosCNE or NoHr1AbE AGAINST MINOR.
In the cnsc Of the Cnttcd States Mortgage
Company vt. Ieabc11a 1Ias}Iey ct a., an fm|Ur-
tant question Was rn[sct1 before Judge D1ofgctt
on the right 10 forccosc In the Federal Courts
mortgage given by tho guardian Of minor.
The statute nf Illinois provides that guardian
may make loan for his ward for term nut
beyond tho war1l's minority by leave Of tho
County Cuurt, and secure tic same by mortgaEu
On the warl's real estate; and that such
mortgage shall be foreclossl onlr In
tho County Court Ut the county
where tho real cstnte Is situated.
In tic present case, Mrt IIadlcy. nsagllardtau
os her son, "a Is claimed Dy leave Ut tfle County
fru1n the United Stalcs Mortrnga COMPANY.
md secured ny mprtoa On her. war!'s real
estate. Tic principal sum Is now dug, together
With interest e!nee ls1;.. In d4ly last tue Con.
forcrlosc tile mortgage, and, o., tic coming IN
uf the answer, askc't fur Il change to tho Fcd.
crnl Court. the County Court sent tl,c case to
the uAltet States Circuit Court, au.l satse"
nude u u,ottoa to remand tho case. On thu
EruunJ tlat tho County Court had exclusive
Jurisdiction Of the subject matter unier tho
STATE statute.
tiot1. lfe held thai Ii was ,,ot within to power
OF the State nutllarttics tU deprive party VINO
las suit so as 10 le entitled IL trial In the
Fcslcral Court al Ills right nf trial there whcu
srtnGgs' coRx DEAL.
On Monday Judge Gary decided rase of In
n,rtancc Il, the parttcs md of Interest to tho
members Of Trade, as developing the i" true in
warlncss +" vi tho transactions known ns tho
EturEfa Curn Deal +" Ut September ntll OttO-
trr. iii,
Thu suit was BY A. II. narley, Receiver ot the
Cook County National Bank, against Witiiasn
sturges about st1O.Olo for margin certificates
isrl1cfl hv tho bank, nr,d which we're used by
Sturrcs Il, rnurvIulnr hls deals.
it ap,caru,l In EVIDENCE that In making all
the6c deals Sturaes acted onIY as l)rtkcr for Il,
i. Nl,en. win furnished iii tir margins, y,,,s-
tue the certificates for that PURPOSE to b.. tsslrd
hy tho t,a1Ik.
In lj.js manner the hank Issued about $tSIl,-
there were outstanding Of thssa ,unrrl, crriiij-
cafes ,{ iii Uf vii. II, ut the then price vf
yyrn. wrrc ,Dst III Tho ,lrn}.
Ui tint tlay Allen informed Stuyges that the
hank was witI,uat funds, a,ll rud rot pay nnv
Of thc ccrtijicatcs; that II ~ n.,,r a. $(0, ,Us
sIosv lts 'luors. 1t tic sat,rc t!nIs i,s assured
tturgrs that tt sixty ,Iays' tl,nr ro,tll bc ui,.
tniuesl, u c.,ull, by juut,, plA,, tic bank It,
funds unI tllen takc rarr VI tic certificates. ii
wus swarm to a. the opinion Of thc INnr,l OF
Trndu rnrmInr1 that II nj t),ut tlnir lt lad bce1,
known That tilv bank col,d not nay tie s:sy5,.
UOO outstanding fall of whIel, .sas owing tu
u1ctnlcrs vi liz Dpar1 oil Tra,jrh n puutc on tho
ltnnr,1 vhirh w.,1tI have wreck ri ,nninrtv III
~ ,it"sicrs .r,,,,i'i I,nur ha"r it,.vit a,,
stmrrrs' ~. .',n.,,ltat,1n vii, iix frcnl. onl
default on ht. dsais. md u tlRht for tiny t,'r
Hoard, and, hut for nu injunction. would have
stuTr".. @ ss With h,s % own money. % look uu nIaut
siiaVU Of tho outstanding ,rrtItlcates, for
..iit ~. l.. .s.,us ."..s..nI l,.i,.. ,vI,iiu IL.