Elizabethport Cordage Co. v. Whitlock

37 Fla. 190
Supreme Court of Florida·Decided January 15, 1896·Published·Cited by 16 cases

Opinion

Taylor, J.:

The appellant, a corporation, as complainant below, filed its bill in equity in the Circuit Court of Duval county on the 24th day of July, A. D. 1890, against William S. Whitlock, Robert M. Shoemaker, Michael M. Shoemaker, Mary S. Putnam, John R. Putnam, Francis M. Shoemaker, Murray M. Shoemaker, Henrietta Shoemaker and Jerre S. Smith, Jr., for foreclosure of mortgage, alleging that on the 27th day of September, A. D. 1875, the defendant William S. Whit-lock was indebted to Lawrence Waterbury and William Marshall, of the city of Brooklyn, State of Hew York, in the sum of twenty thousand dollars, and on said date, to secure the same, executed to said Waterbury and Marshall his bond in the penal sum of $40,-000. conditioned to pay said indebtedness of $20,000 and interest thereon from date at the rate of seven per cent, per annum, and a mortgage on water lots 5 and 6, fronting on Bay street, in the' city of Jacksonville, Florida, excepting from said lot 6 a parcel in the northwest corner thereof, having a frontage on Bay street of 40 feet, and a depth towards the St. Johns river of 45 feet, owned by one Joseph Santo; which mortgage was-duly acknowledged and recorded in the public records, of Duval county on the 8th day of October, A. D. 1875,.

[193] the original bond and mortgage being attached to the bill as exhibits. That on the 20th day of March, A. D. 1877, the said bond and mortgage, with all interest, costs, expenses and penalties thereunder were wholly outstanding, unpaid and unsettled'; that on that date, in the city of New York, for a good and valuable consideration moving from Daniel B. Whit-lock, E. M. Pulton and A. W. Lukens, as copartners under the firm name and style of the Elizabethport Steam Cordage Company, hereafter called the copartnership, the said Waterbury and Marshall sold, as signed, transferred and set over unto said copartnership their said indebtedness of William S. Whitlock as evidenced aforesaid, and then and there delivered to said copartnership their said bond and mortgage; and then and there, in further execution thereof, the said Waterbury and Marshall delivered to said copartnership a certain paper purporting to be a release or satisfaction of their said bond and mortgage; and then and there the said William S. Whitlock, being indebted to said copartnership in the sum of twenty thousand dollars and more, executed to said Daniel B. Whitlock, acting for his said copartnership, a certain bond in the penal sum of $40,000, conditioned upon the payment of said sum of $20,000 on or before the expiration of one year from the date thereof, with interest thereon from said date at the rate of seven per cent, per annum, payable semi-annually; and then and there the said William S. Whitlock also executed to said Daniel B. Whitlock, acting for his copartnership as aforesaid, his certain mortgage deed of said described lots of land, conditioned upon the payment of the said indebtedness mentioned in said last named [194] bond, which mortgage was duly acknowledged and recorded in the public records of Duval county on June 26th, 1877. The originals of said last mentioned bond and mortgages are attached to the bill as exhibits. That on the same day, to-wit: June 26th, 1877, the said paper purporting to be a release as hereinbefore stated was also recorded in said public records of Du-val county on the page of the record book next contiguous to the record of said mortgage to Daniel B. "Whitlock. That said bonds and the said mortgages were exact duplicates of one another, excepting in the •dates and the name of the mortgagee, as aforesaid. That said bonds and mortgages were parts of one and the same transaction. That the said William S. Whit-lock was seized and possessed and in the actual possession of said described lands on and during each and •every the said days and periods aforesaid. That neither the indebtedness evidenced by the said mortgage •to Waterbury and Marshall, nor any interest, costs or expenses thereon, nor the indebtedness evidenced by said bond and mortgage to said Daniel B. Whitlock, nor any interest, costs or expenses thereon have ever been paid, satisfied or discharged. That orator, the said corporation, is the tona fide purchaser for value of the said indebtedness, bonds and mortgages, and all and singular the rights and equities in the premises of the said Lawrence Waterbury and William Marshall, and of the said Daniel B. Whitlock and the said •copartnership, the Elizabetliport Steam Cordage Company. That all of the other defendants, except William S. Whitlock, are now claiming the right of possession or ownership, or other rights and equities in ssaid described lands; but that the fact is, that the xights and equities, claims and demands, if any, of [195] said defendants are subsequent and inferior to the rights and equities of your orator as herein set forth. The bill prays that the complainant be adjudged to be entitled to each and every the rights and equities therein set forth. That your orator be adjudged to be the assignee of the said indebtedness, bond and mort.gage of the said Waterbury and Marshall. That it have a decree for the sum due it by William S. Whit-lock, together with costs, charges and solicitor’s fees. That it be adjudged to have a mortgage lien on said described lands for the sums due, and that said lien be decreed to be prior and superior in all respects to all and singular the rights and equities, claims and demands, of whatsoever nature, of the defendants, and •each and every of them herein. That said lands be sold by a master to be appointed, under the decree of the court, and the proceeds applied to the payment of the sums found' to be due complainant; and that if such proceeds be insufficient to pay said ' sums in full, that it have a personal decree for the' deficit against the said William S. Whitlock. There is also a prayer for general relief and for subpoena.

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

Elizabethport Cordage Co. v. Whitlock, 37 Fla. 190 (Fla. 1896).

37 Fla. 190 (Elizabethport Cordage Co. v. Whitlock) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Underwriters Insurance Co. v. Sisung
202 So. 2d 231 (District Court of Appeal of Florida, 1967)
Security Trust Co. v. Grant
155 So. 2d 805 (District Court of Appeal of Florida, 1963)
S(c)holtz v. Hartford Accident & Indemnity Co.
88 F.2d 184 (Fifth Circuit, 1937)
McGregor v. Provident Trust Co.
162 So. 323 (Supreme Court of Florida, 1935)
Travers, Linebaugh Frazier v. Stevens
145 So. 851 (Supreme Court of Florida, 1933)
Tilton v. Horton
137 So. 142 (Supreme Court of Florida, 1931)
James v. Gollnick
130 So. 450 (Supreme Court of Florida, 1930)
Greenwald v. Graham
130 So. 608 (Supreme Court of Florida, 1930)
Van Eepoel Real Estate Co. v. Sarasota Milk Co.
129 So. 892 (Supreme Court of Florida, 1930)
Peninsular Naval Stores Co. v. Cox
57 Fla. 505 (Supreme Court of Florida, 1909)
State v. Seaboard Air Line Railway
56 Fla. 670 (Supreme Court of Florida, 1908)
Brown v. Banks
54 Fla. 255 (Supreme Court of Florida, 1907)
Ottensoser v. Scott
47 Fla. 276 (Supreme Court of Florida, 1904)
Hoodless v. Jernigan
46 Fla. 213 (Supreme Court of Florida, 1903)