Elizabethport Cordage Co. v. Whitlock

37 Fla. 190
CourtSupreme Court of Florida
DecidedJanuary 15, 1896
StatusPublished
Cited by16 cases

This text of 37 Fla. 190 (Elizabethport Cordage Co. v. Whitlock) is published on Counsel Stack Legal Research, covering Supreme Court of Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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

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]*193the 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]*194bond, 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]*195said 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.

All of the defendants appeared in person or by attorney. The defendant, William S. Whitlock, interposed no defense, and decree pro confesso was- entered against him. All of the other defendants jointly answered the bill as follows : They admit the execution of the bond and mortgage by William S. Whitlock to Waterbury and Marshall, but disclaim any knowledge as to whether said William was, on the date thereof, indebted to said Waterbury and Marshall, and demand strict proof thereof. They admit the execution of the bond and mortgage by William S. Whitlock to Daniel B. Whitlock as alleged, [196]*196but disclaim any knowledge as to whether William S. Whitlock was indebted, at the time of their execution, to the Elizabethport Cordage Company in any sum, and as to whether the said Waterbury and Marshall assigned to said Cordage Company the said indebtedness evidenced by the bond and mortgage of William S. Whitlock to them, and as to whether said Cordage Company paid to the said Waterbury and Marshall any consideration whatever for the said indebtedness, and demand strict proof thereof. They deny that the paper purporting to be a release of the said mortgage to Waterbury and Marshall was recorded in said public records of Duval county on the-page of the record book of mortgages “F,” next following the record of said. mortgage to Daniel B. Whitlock. They admit that William S. Whitlock was seized and possessed and in the actual possession of the lands described on the dates mentioned. They disclaim any knowledge as to whether any interests, costs or expenses upon the said indebtedness evidenced by the said bonds and mortgages to Waterbury and Marshall and to Daniel B. Whitlock have not been paid, satisfied or discharged as alleged, and demand strict proof thereof.

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Bluebook (online)
37 Fla. 190, Counsel Stack Legal Research, https://law.counselstack.com/opinion/elizabethport-cordage-co-v-whitlock-fla-1896.