The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-20
FOUR DAYS TO SPARE
Narrow Escape of $1,000
Note by Statute Limitation.
BLACK PROPERTY INVOLVED
Fourth National and 0. F.
Ponce Claim Ownership.

a foreclosure suit has just been in
stituted in the district court that has
numerous complications, and upon the re-
suit of which will determine the owner
ship OF a little over an acre of prac-
tically unimproved ground situated on
Douglas avenue near the bridge across the
Arkansas river. The amount involved is
but 81, zoo with interest on the same az the
rate OF 10 per cent from 1880. The interest
viii more than cover the principal. The
case is a peculiar one, in that had the
suit been commenced, until a few days
later. according to the allegations set up
in the petition the note and mortgage
against the property would have been out
lawed. The property involved is the es-
tate of Harvey 3. Black, who died iEs
terstate last March
The petition is entitled the Fourth Ma
tional bank against Cora Black, as add
ministrator of the estate Of Harvey W.
Black, Oscar F. Pearce and wife. Estella
ReifeL Ella Reifel, R. A. Lawson and H
G. Ruggles. This property has quite a
history. Shortly after the boom, on
March Z, 1890, which are the averments
in the petition, the deceased Black issued
his certain promissory note for 81 200, 10
H. G. Ruggles. and to secure payment
executed a mortgage on the land which
is described as follows: Commencing at
the northwest corner of Douglas avenue
and Waco street, west 175 feet to the east
bank of the Arkansas river, Us feet to
the south line of the street railway,
thence in northeasterly direction TO the
south line of the street railway to a point
due south of the west line of Waco street,
thence north IS feet to the place of be-
ginning.
The note was made payable on March T.
1891, with 10 per cent interest. The note
and mortgage was afterwards transferred
and duly assigned by Mr.. Ruggles to the
Fourth National bank Nothing was
heard of this note and mortgage in the
way of litigation since. About year
ago and prior to the death of Mr.. Black
the property was sold to Mr.. Paine, who
is made one of the defendants in the
action for $40, and he holds a deed to the
same at the present time. No abstract
went with the sale and Mr.. Paine seemed
to have taken it for granted that the
title was clear not knowing of the exist
ence of the $1,000 mortgage.
After the death of Mr. Black and the
appointment of an executrix, the Fourth
National bank, by virtue of the mortgage.
presented the claim and at once began
proceedings of foreclosure. The peculiar
part of the suit is that on June IS, of this
year the mortgage and note would have
been outlawed by reason of the five years
statute Of Limitation The petition alleges
that since the execution of the note none
of the interest and but one payment had
been made on the same. On June IS, 1895.
the petition. Black, paid $40 on the note.
thereby making the holder TO keep the
same alive until June IS, 1900.
The suit was filed on June H. Mr.
Paine, VINO purchased the property. has
employed counsel and will attack the
genuineness OF the mortgage and the $40
payment. He claims that in 1890 the
property was OF little value. while now it
is being held at 5000. There is but little
over one acre in the tract.