The herald., 1895-02-15
Shylock Nearly Outdone by Mr..
Sylvaney
ZEN PER CENT PER MONTH
High Terms in a Transaction With
Young Ybarra
Allegations In View of Some Notable Transac-
sactions in Mortgages and
Real Estate

Steven Sylvaney, capitalist who
lives near the San Fernando street depot,
was the plaintiff yesterday in Department
Five in suit to foreclose a mortgage
against Candelario Ybarra for $500 and
interest There would have been nothing
very extraordinary about this little fore
closure of mortgage action, but for the
fact that the interest was at the rate of 10
per cent per month.
Before the trial proceeded, Messrs.
Wicks e. Mcdonald stated that there was
no denial of the mortgage having been
given by their client, the only question at
issue being the interest charged. Ybarra
had believed at the time he signed the
note that the interest was 10 per cent per
annum. This he was willing to pay, and
he had made tender of the principal,
together with the total amount of interest
at that rate, but it had been declined by
Mr. Sylvaney.
Mr.. Sylvaney testified that Candelario
Ybarra had subscribed the note and mort
gage covering an undivided half interest
in lot one of the Ibarra Vineyard tract
on July 1, 1892. The interest was 10 per
cent per month, compounded annually
until paid. There was now due him,
principal and interest Jumped together,
the sum of S2475.66.
Candelario Ybarra, a young barber of
Franco Mexican descent, told how he had
been inveigled into borrowing the money.
He was shaving party one day in June,
1892, when new customer called in. 1t
was an attorney who told him that he
was one of Sylvaney's lawyers in case
then on appeal, for the property now
mortgaged, and he expressed the belief
that, except under certain circumstances,
IbarIa must lose it. The conversation
then changed to Mr.. Ybarra's matrimo-
NAL designs, and the attorney remarked
that it was difficult to get married with
out money Mr. Ybarra answered that he
wouldn't go to much expense. The at
torney then intimated that he might help
the barber out. He thought he could
raise 5000 on Y barra S personal note.
The next time he called he told Ybarra
to come along with him, the money was
in the office. However, the loan could
not be made on Il note without security,
but he would procure him then and there
$500 on a mortgage at the rate of 10 per
cent. AT the lawyers office, seated in
chair, was the amiable Mr.. Sylyaney, who,
note without reading it, handed over $500
to the lawyers. Later when Ybarra
found out that he had to pay $50 per
month interest instead of $50 a year he
called upon Mr.. Sylvaney to have the mis-
take corrected. Sylvaney told him to see
ms dtuolhcys, anu 1ncoS Stillclieu III
formed him that he had signed the note.
Consequently, they added, you have
no kick coming You re all right"
The case on appeal to which reference
had been made by the lawyer in the bar
Der shop was the outcome, too, OF an ex-
traordinary business. Ybarra, in his
answer to the present suit, alleges that
when he was a small boy five years of age
he owned lot of the Ybarra tract, and
that at that time Mr.. Sylvaney obtained a
deed to the land from his guardian, who
had no authority to sell it. Upon attain
ing his majority Ybarra began an action
for the recovery of his estate from Syl-
vany and secured decree that he was
entitled to its possession and that Sylvaney
had no right to it. Sylvaney appealed the
case to the Supreme Court, but it was de-
cded again in favor of Ybarra 1t was
during the time that the case was pending
that the mortgage was secured from
Ybarra.
Judge Shaw after having heard the story
of Sylvaney's effort to make $500 earn him
yearly $3.50 ordered the cause submitted
on briefs, each side to have five days.