R. M. Walmsley & Co. v. Theus

107 La. 417
CourtSupreme Court of Louisiana
DecidedNovember 15, 1901
DocketNo. 13,719
StatusPublished
Cited by19 cases

This text of 107 La. 417 (R. M. Walmsley & Co. v. Theus) is published on Counsel Stack Legal Research, covering Supreme Court of Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
R. M. Walmsley & Co. v. Theus, 107 La. 417 (La. 1901).

Opinions

Statement of the Case.

Nicholls, C. J.

The following extract is taken from the reasons for judgment assigned by the District Court for the judgment rendered by it in this ease:

In these consolidated cases is involved a contest for the proceeds of the sale of certain real and personal property based on alleged priority of mortgage and privilege.

On the 19th day of October, 1891, Williaim P. Theus executed a conventional mortgage to Norman E. Thompson, of New York City, on 2880 acres of land and building and improvements thereon, situated in Bienville Parish, Louisiana, to secure the payment of a loan made by said mortgagee, amounting to seventy-six hundred and eighty-nine and [419]*4199-100 dollars ($7689.09), evidenced by promissory notes or bonds, as follows, viz:

One 'for $68.50, due December 1st, 1891.
One for $1240.00, due December 1st, 1892.
One for $1121.61, due December 1st, 1893.
One for $1013.50, due December 1st, 1894.
One for $914.30, due December 1st, 1895.
One for $823.00, due December 1st, 1896.
One for $738.92, due December 1st, 1897.
One for $660.05, due December 1st, 1898.
One for $588.17, due December 1st, 1899.
One for $520.64, due December 1st, 1900.

All payable in gold — principal and interest — at the Merchants’ and Farmers’ Bank, Shreveport, La.

Other stipulations not material to the questions at issue were incorporated in this mortgage, which was duly recorded October 24th, 1891, in mortgage book “F,” page 600, of Bienville Parish', La'.

The notes or bonds thus secured were made payable to the mortgagee, Norman F. Thompson or order,” and bear 5% interest before and 8% interest after maturity.

On the 28th day of December, 1891, the said mortgagor, William P. TBeus, executed another or second conventional mortgage on the same real property to secure the payment of two promissory notes, each for twenty-five hundred and forty-nine and 30-100 dollars, aggregating $5098.00. This mortgage was duly recorded in the mortgage office of Bienville Parish.

On the 25th day of June, A. D. 1896, this mortgage was rendered executory by a judgment of this court, which embraced an additional sum of $2000.00, with 8% per annum interest on same from November 2nd, 1891, subject to a credit of $642.73, July 17th, 1893, and costs of suit. This judgment is 'against “W. P. Theus and W. W. Armistead in solido.”

On the 11th day of November, 1898, a writ of fi. fa. was issued on this judgment, and the sheriff of Bienville Parish' siezed this mortgaged property and the personal .property shown by his returns. After due advertisement, the sheriff adjudicated the mortgaged property to W. W. Armistead for $4981.00 on the 31st day of December, 1898. Personal property was adjudicated as follows: To W. W. Armistead for $375.00; to James Brice for $368.25.

[420]*420The deputy sheriff declined to execute an act evidencing said adjudication of the 2840 acres of mortgaged realty, for the alleged reason that the bid of Armistead was not sufficient to cover the prior mortgage to Norman E. Thompson, shown by the mortgage certificate to be still on record.

On the 28th day of September, 1898, R. M. Walmsley & Co., in Liquidation, instituted suit No. 1804 in this court against Norman E. Thompson et als., alleging that ah the installments secured by the prior mortgage, except the last three unmatured notes, had been paid and that the prior mortgage had been, to that extent, extinguished. And plaintiff prayed that it be so decreed, and the mortgage erased.

On the 22nd day of June, 1899, W. W. Armistead instituted suit No. 1863 in this court against James Brice et als., alleging the payment and cancellation of the Norman F. Thompson notes maturing prior to 1898 and the extinguishment of said mortgage, pro tanto.

Said Armistead alleges his purchase of the mortgaged land, his tender of payment of the price of adjudication, and makes necessary allegations and parties to complete his alleged inchoate title.

He puts at issue the third opposition of James Brice individually and as under-tutor of' the minor children of Mrs. Maggie Y. Theus, deceased, and the opposition of Mrs. Hattie E. Singleton. The opposition of James Brice alleges ownership of the Norman F. Thompson notes maturing in 1896 and 1897, respectively, and that he is subrogated to the rights of Norman F. Thompson’s mortgagee and prays for judgment accordingly.

The oppositions of the heirs of Mrs. Maggie V. Theus make like claims of the notes maturing in 1893 and 1894 and 1893 in favor of the said Norman F. Thompson mortgages.

These oppositions were filed December 31st, 1898, the day of sale of the mortgaged property.

On the 10th day of March, 1899, James Brice filed suit No. 1842 against W. P. Theus, alleging indebtedness of defendant, W. P. Theus, to him; insolvency of defendant, and averring that he had paid the Norman F. Thompson prior mortgage notes maturing in 1892, 1896 and 1897, and was and is therefore subrogated to all the rights of the original payee and mortgages.

His prayer is that his claim be enforced on the mortgaged property.

The various suits and oppositions were at issue in all essentia] mat[421]*421ters; and. a voluminous record contains the evidence to guide the court to a final conclusion a>nd judgment.

Of the many claims and counter-claims but few are material for the consideration of the court. Chief among these are the third 'oppositions of Captain James Brice and of the heirs of Mrs. Maggie V. Theus, whose contentions involve the question of extinguishment vel non of the Norman E. Thompson notes and prior mortgage on the land in question for the years 1892, 1893, 1894, 1895, 1896 and 1897.

It is in evidence that the note due in 1892 was paid without any endorsement or assignment and that the endorsement, “ The within note was paid by Captain James Brice, 12-19-92,” was placed there at the instance of W. P. Theus, after he got the note. See evidence, page 52.

The note due in 1893 was or is marked cancelled.” Cancelled ” on its face in stamped letters.

The note due in 1894 is stamped “ Paid Dec. 13, 1894. Delta Trust and Banking Co., Vicksburg, Miss.”

The note due in 1895 is stamped Cancelled,” Cancelled,” “ Can-celled,” Cancelled,” on its face.

The note due in 1896 is likewise stamped Cancelled,” “ Cancelled,” “ Cancelled,” “ Cancelled,” on its face, and “ Cancelled,” Cancelled,” on its back.

The testimony of P. M. Harding, of Vicksburg, Miss., taken by commission at the instance of E. M. Wahnsley & Co., in Liquidation, ’is material, and I quote as follows: '

Answer to first Interrogatory:

I am a resident of Vicksburg, Mississippi, and am president of the Delta Trust and Banking Company.”

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107 La. 417, Counsel Stack Legal Research, https://law.counselstack.com/opinion/r-m-walmsley-co-v-theus-la-1901.