Bateman v. Gitts

133 P. 969, 17 N.M. 619
CourtNew Mexico Supreme Court
DecidedApril 10, 1913
DocketNo. 1530
StatusPublished
Cited by6 cases

This text of 133 P. 969 (Bateman v. Gitts) is published on Counsel Stack Legal Research, covering New Mexico Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Bateman v. Gitts, 133 P. 969, 17 N.M. 619 (N.M. 1913).

Opinion

OPINION OP THE COURT.

ROBERTS, C. J.

On the 25th day of October, 1909, the District Court of Chaves County, New Mexico, entered a decree in this case by which the appellee was given a first lien on sixteen shares of stock of the American National Bank of Roswell, owned by one Julius J. Gitts; and the inteivenor, the American National Bank of Boswell, was given a lien on said shares of stock, which lien however, was declared to be a second lien to the lien of the First National Bank of Marshall, Minnesota. The decree provided further, as follows:

“But that said lien given to said First National Bank of Marshall, is upon the condition that, within sixty days from date hereof, it cause said note now held by said Weaver to be endorsed, transferred and delivered for collection to the receiver hereinafter named, and that said bank within said time also endorse and deliver to said receiver said two certificates of stock now in its possession, and that within said time said bank also truly reports in writing to be filed in this action, what collateral, if anjq other than said certificates of stock it has to protect it against the payment of said renewal note, and also what became of said insurance policies and the amounts thereof, by what .companies issued and to whose favor the same were issued; (d) that in the event of the failure of said First National Bank of Marshall to comply with any one or more of the provisions above mentioned within the time above mentioned, unless extension thereof be granted by this court upon written applications by said bank therefor, said lien given to said bank shall be inferior and second to the lien hereinbefore given to the intervenor; (e) that Alexander J. Nisbett, Esq., of Boswell, Chaves County, New Mexico, is hereby appointed receiver of this court, and is hereby authorized, empowered and directed to take possession of said note now held by said Weaver upon the same’s being transferred and endorsed to him, and also to take possession of said certificate of stock and all other collateral, if any, held by the First National Bank of Marshall to protect it as guarantor of said renewal note, including said two insurance policies; and said receiver is hereby empowered and directed to proceed to collect said note by suit or otherwise and to sell said shares of stock and other collateral, including said two insurance policies, under the orders of the court hereafter to be made and to hold the proceeds derived from such collection and sale subject to the further orders of the court.”

From this decree an appeal was taken to the Supreme Court of the then Territory of New Mexico, and the judgment of the lower court was affirmed in an opinion which will be found reported on page 441 of the 16th New Mexico Report. Thereafter, and upon receipt of the mandate of the Supreme Court, on the 31st dajr of July, 1912, the District Court of Chaves County entered the following final decree:

“This cause coming on for further hearing herein and for affirmation on the final decree herein upon the judgment of the Supreme Court on affirmation in all things of the judgment of-this court made herein on October 19, 1909, the court being fully advised in the premises and having heretofore, on February 19th, 1912, ordered the sixteen shares of the capital stock of the Roswell National Bank held by Alexander J. Nisbett, special master in this cause, sold at private sale, and the same having been so sold on said day and date to H. P. Saunders of Roswell, New Mexico, for the sum of $2,800.00, and this court having heretofore, on October 19, 1909, duly adjudged and decreed that the First National Bank of” Marshal], Minnesota, one of the defendants herein, and the Supreme Court herein in all things having affirmed said judgment, that said bank had a first and prior lien on said sixteen shares of stock aforesaid, by reason of the same having been duly hypothecated and pledged to said First National Bank of Marshal], Minnesota, as security for a certain promissory note given by J. J. Gitts & Company, J. J. Gitts, Francis Gitts, Ed Gitts, Paul Gitts, V. B. Gitts, for the sum of five thousand and no-100 ($5,000.00) dollars, and it further appearing to the court that the only and all the available proceeds and assets obtainable by said special master, and now in his hands as such master, is the sum of twenty-eight hundred and no-100 ($2,800.00) dollars aforesaid, received by him for the sale of said stock;
H Is Therefore Ordered, Adjudged and Decreed by the court that the said special master pay over to the said First National Bank of Marshall, Minnesota, pledgee of said stock, the said sum of twenty-eight hundred and no-100 ($2,800.00) dollars, and upon his filing its receipt therefor with the clerk of this court he is hereby discharged from any and all further duties herein as special master, aforesaid.”

1 Thereafter, on the 2nd day of August, 1912, the appellant filed with the Clerk of the District Court a motion to set aside said final decree upon various grounds, one of which was that the appellant had no notice of the fact that application had been made by the appellee, the First National Bank of Marshall, Minn., for the entry of said final decree, or that the same had been entered, or was to be entered. Later, however, appellant withdrew this motion and prayed an appeal to this court from said final decree. For reversal of the judgment of the lower court, it is urged here that the final decree was erroneous because it disregarded the conditions imposed by the decree of October 25, 1909, which required the First National Bank of Marshal, Minn., to do certain things within a limited time, and upon default in complying therewith, the intervenor should have a first lien. The error in appellants’ contention lies in the fact that they treat the said decree of October 25, 1909, as being a final judgment. It is true an appeal was taken from this judgment to the Territorial Supreme Court, and the judgment was there affirmed, but the fact that the judgment was not final, but merely interlocutory, does not appear to have been called to the court’s attention, or to have been considered. In that ease appellee filed no brief, and the matter was determined upon the record and brief filed by appellant. Had the matter received the attention of the court, the appeal would undoubtedly have been dismissed, as the judgment from which the appeal was taken was not final. A reading of the decree, or of that portion of it involved in this discussion, will demonstrate the fact that further action of the court in the case was necessary to give the relief contemplated by the court. It was not a final judgment in favor of the First National Bank of Marshall, Minn., nor on the other hand, was it final as to the intervenor, the American National Bank of Boswell. The First National Bank of Marshall, Minn., was to have a first lien upon the shares of stock upon conditions which were to be complied with within sixty days.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

DeMichele v. State Taxation & Revenue Dep't
2015 NMCA 095 (New Mexico Court of Appeals, 2015)
Speckner v. Riebold
523 P.2d 10 (New Mexico Supreme Court, 1974)
Brown v. Lufkin Foundry & Machine Co.
487 P.2d 1104 (New Mexico Court of Appeals, 1971)
Carpenter v. Merrett
477 P.2d 819 (New Mexico Supreme Court, 1970)
Olds v. Thorington
190 P. 496 (California Court of Appeal, 1920)

Cite This Page — Counsel Stack

Bluebook (online)
133 P. 969, 17 N.M. 619, Counsel Stack Legal Research, https://law.counselstack.com/opinion/bateman-v-gitts-nm-1913.