The Denison review. [volume] (Denison, Iowa) 1867-current, 1908-04-15
JUDGE ii CHURCH SUSTAINED.
In the stepanek Case the Supreme
Court Sustains Decision in Favor.
Of Omaha Bank.

/ There was an opinion handed down
by the supreme court on Thursday
morning last. that is of more than
passing interest to many. 1t again
brought to view that chattle mort
gage to be good must be so explicit
as to allow no possibility of misunder-
standing to what property is covered.
1t seems that during the career of
H. S. Green. of Dow City. j. w.
Stepanek made to him q note for
$4,000. %. and mortgage securing the
same. covering sixty-five head of
three year old steers. each marked
with round hole in the right ear.
This note was subsequently sold by
Mr.. Green to the Des Moines Nation
al Bank. and carried with it the
assignment of the mortgage.
Later Mr.. Stepanek made another
note uf s4OO0.0O. to take up the first
one. and borrowed money. and made
to secure the payment of the same .
chattel mortgage covering 100 head of
three year old steers. marked with
round hole in the right ear. This
note. H. S. Geen sold to the Central
Trust Company. banking corpora
ton. in Chicago. ILL.,. and the sale Of
the note carried with it, the assign
ment OF the mortgage.
Subsequently Mr.. Stepanek made
another note for $4,000. 90. to take up
the 100000 note. and executed q
chatttel mortgage securing the pay
ment of the same on 100 head of three
year old steers. marked with round
hole in the right ear. and this note
was sold to the Merchants National
Bank of Omaha. Neither of these
parties obtained written assignment
of their respective mortgages. but
allowed the same to stand of record in
the name H. S. Green. who. before
the making of the last named one.
satisfied of record the one then held
by the Des Moines National Bank,
and the Central Trust Company.
Following the Green failure. the
Central Trust Co. of Chicago. and the
Des Moines Bank practically united
their forces. and sued to foreclose
their mortgages and for the appoint
ment of receiver to take possession
OF the cattle found in Stepanek's pos
session. Mr.. Meehan. the sheriff was
appointed receiver for that purpose.
who took. shipped and sold the cattle,
and received the proceeds thereof.
Thereafter. fund of something over
$2Oo0.OO was. by order of Judge
Powers in Carroll released from the
lien of the receivership; turned over
to Stepanek. He in turn. paid it
over to various parties, and the Cen
trail Trust Company. who had prev
iouslY sued to foreclose its mortgage,
commenced an action to get hold of
the fund thus released, so that the
case was that of the Central Trust
Company VS.. Stepanke, Defendant
Merchants National Bank and others,
Intervenors.
The cause was tired to Judge
Church. without jury, and presented
some nice legal points. 1t was con-
tended by the Merchants National
Bank of Omaha, that when the mort
gage was made, claimed under by the
Des Moines National Bank. Stepanek
had something like one hundred eleven
lead of s.e.rs. each similarly marked,
and sixty-tive thereof covered by the
mortgage held by this bank. and that
when the mortgage was made.
claimed under by the Central Trust
Co. that Stepanek had one hundred
one head of steers. some having dice
since the making of the mortgage
claimed under by the Des Moines Ma.
tional Bank; and that therefore bott
these mortgages were void, because
being too indefinite in description, il
being impossible to identify the in
dividual steers covered by either Of
these mortgages from the instrument
itself. and such inquiries as it woulc
suggest.
When the mortgage under which thu
Merchants National Bank claimed wa.
made covering 100 head. the MORTGAGE
had just 100 head. Judge Church be-
lieving that the law was on the side
of the Merchant National Bank Of
Omaha. that the mortgages under
which the Des Moines National Banl
and the Central Trust Co.. claimed
were void for uncertainty IN descrip
ton: and that they by allowing the
mortgages to remain of record in tn.
name of H. S. Green. tacitly con
sented to his cancelling the same o.
record. held that the mortgage
claimed under by the Merchants Ma
tional Bank of Omaha was senior
and superior lien to that of either o,
the other mortgages. giving it priority
as to the proceeds of the cattl,
shipped by the receiver. From thi
an anneal w.s nrnsocutad TN tho Cir