St. Paul daily globe., 1896-02-08
The Board of County commissioners Of Hen

The Board of County Commissioners of Hen
nepin County, appellant, VS.. State Bank ct
al, defendants; S. E. Olson ct al, re-
spondents.
The defendant bank executed bond to
the plaintiff, with its co-defendants as sure
ties, in which it was recited that the bank
had applied to be designated a depositary of
county funds. The condition of the bond was
that If the bank was designated such de-
posltary, pursuant to the statute, it should
pay on demand all funds deposited with II
pursuant to such designation.
The board of county commissioners desig-
mated the bank such depositary accepted and
approved the bond, which was duly re-
corded, and the county treasurer pursuant
to such designation and bond deposited
county funds with the bank as a county de-
postary.
answer of the sureties that the board of
county auditors never considered the ap-
plication of the bank and never designated
1t as a county depositary. and that they never
knew that the bond had been approved or
that the funds had been deposited with the
bank in reliance thereon, does not state a.
defense. Order reversed. Start c. I
James A SAKE, respondent vs. Pattfe c.
Womack ct al. appellants.
1. The price of property sold in good faith
may be included In the same security with
money loaned, and the fact that the price was
large and more than the property could have
been sold for does not necessarily condemn
the transaction as usurious. The inoi,irv in
such a case is whether upon the evidence
there was any corrupt agreement or devise
or shift, to receive and take usury, and in
this aspect of the case the QUO amino AS
well as the acts Of the parties, Is most i'm
portant.
2 Such transaction is not per Sc illegal,
though 1t may be so. And because an article
IS deprecated in the market it does not fol-
low tAet the owner is not entitled to demand
or receive higher price a condition for
parting with it. Order affirmed.
Collins j.
Mary E. SAKE, appellant, vs. Charles O. Rice
respondent
TO waive an irregularty in foreclosure nro
ceedings under power CT sale and to con-
nrm and validate sale of the mortgaged
amount of the debt with interest and all
costs, there being no other person except the
mortgagor who could at any time question
the regularity of the sale, within a reasonable
time, and the mortgagor has caused a deed
TO be rendered conveying perfect title to the
mortgage, the latter cannot insist upon the
1nvalidity in the foreclosure proceedings. re-
puulate the sale and maintain an action to
recover upon the mortgage note. Judgment
affirmed. -CoIIins
Theo Basting, as Receiver of MINNEAPOLIS
Times Company, respondent, vs. William
5. Ankeny, appellant.
The receiver of an insolvent CORPORATION
appointed In proceedings under General Stat
utes 1884, sec. 5S97 may maintain an inde-
pendent action to enforce the collection of
the amount of call on unpaid subscriptions
made by the board of directors in accord
ance with the laws, and due and payable
prior to the commencement of the proceed
ings which resulted in the appointment of the
receiver.
The regularity, propriety and validity of
the appointment of such receiver can onlv
be questioned in a direct proceeding to test
that question.
Held that certain alleged equitable defenses
set forth in an answer in this action are not
available to the defendant but that his rem