Tinker v. Catlin

68 N.E. 773, 205 Ill. 108
CourtIllinois Supreme Court
DecidedOctober 26, 1903
StatusPublished
Cited by3 cases

This text of 68 N.E. 773 (Tinker v. Catlin) is published on Counsel Stack Legal Research, covering Illinois Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Tinker v. Catlin, 68 N.E. 773, 205 Ill. 108 (Ill. 1903).

Opinion

Mr. Justice Ricks

delivered the opinion of the court:

The evidence discloses that the litigation in question is the result of the following business transactions: On August 14,1885, Sidney A. Stevens, of Chicago, borrowed $15,000 of John R. Mitchell, and gave his note, due June 1, 1886, for the same. This note was endorsed by B. H. Campbell, and as collateral security for the payment of it Stevens gave to Mitchell fifteen shares Chicago Safe and Lock Company and one hundred and fifty shares Citizens’ Gas Light and Heating Company of Blooming-ton, Illinois. This note was extended one year. The interest was paid to June 19, 1886, and $10,000 of the principal paid October 27, 1886. On September 30,1887, Sidney A. Stevens borrowed of one Kent $35,000, to pay the $5000 balance of the Mitchell note and for other purposes, and gaye a note to the order of the maker, due in six months, which was endorsed by Sidney A. Stevens, B. H. Campbell and F. G. Tibbits, in the order named, and said Stevens placed with one Thomas D. Catlin, to secure said note, $6000 Kokomo gas seven per cent bonds; $3000 Consumers’ Gas Company five per cent bonds; one hundred and fifty shares Citizens’ Gas Light and Heating Company; one hundred shares Chicago Safe and Lock Company; thirty shares Commerce Vault Company; four hundred and sixty-five shares Chicago Mining and Reduction Company; sixty shares National Gas Light and Heating Company. The above note, payable to the order of Sidney A. Stevens, appears to have been taken up and exchanged for another note, dated September 30, 1887, for $35,000, due one year after date, payable to Thomas D. Catlin, which note was endorsed on the back, “F. G. Tibbits, B. H. Campbell,” in the order named, and with which the same stocks as in the last note above mentioned were placed as collateral. The interest was paid on the last named note to October 1, 1888, and that note was renewed or taken up by the giving of another note payable to the order of Sidney A. Stevens, the maker, dated October 1, 1888, for $35,000, accompanied by the same collateral as mentioned in the two previous notes and endorsed by B. H. Campbell, F. G. 'Tibbits, R. H. Tinker, Sidney A. Stevens, and over their signatures, purporting to be for value, was a contract of guaranty. The note of October 1, 1888, was renewefi'January 1, 1890, by a .note for $35,000, due in six months, signed by Sidney A. Stevens, and endorsed on the back by B. H. Campbell, F. G. Tibbits and R. H. Tinker, in the order named, and secured with the same collateral as above mentioned. The interest and a portion of the principal of this last note were paid by the sale and application of some of the collateral, and on October 1, 1890, a new note for $34,290.05 was given to Thomas D. Catlin, due six months after date. This note purports to be a joint note, and is as follows:

“$34,290.05.

Chicago, October 1, 1890.

“Six months after date, for value received, we promise to pay to the order of Thomas D. Catlin the sum of thirty-four thousand two hundred ninety and 05/100 dollars at thé Commercial National Bank, with interest at the rate of seven per cent per annum after date, having deposited with the holder as collateral security.” (Here then follows a list of the collateral securities.)

Sidney A. Stevens,

B. H. Campbell,

E. H. Tinker,

F. G-. Tibbits.”

Prior to the making of the last note in question, Catlin, through bis attorney, Towne, demanded payment and refused a further extension, but it was finally agreed that if all those who had formerly been endorsers upon the previous note would become makers of the note in question, and $10,000 additional collateral security should be placed with the note, the debt might be extended for six months more. Campbell, one of the parties to the note, put up the $10,000 additional security by pledging one hundred shares of the Northwestern Safe and Trust Company stock.

The allegation of the bill that the indebtedness was that of Sidney A. Stevens and B. H. Campbell, and that Campbell, because of his relation to the debt, was an original maker of the note, and as having received any portion of the money for which the note was given, as a loan, was abandoned after the evidence was all in, and it was expressly stipulated by the parties “that Sidney A. Stevens was a principal as to all the other signers, namely, B. H. Campbell, R. H. Tinker .and F. G-. Tibbits,' and that each was entitled to exoneration from the said Stevens.” It may well be doubted whether there are any allegations in the bill that would support any other theory of the case than that which was expressed by the above stipulation. Appellants point out in their brief the following allegation: “Orators further charge and represent, that while they were and are mere sureties to and for the said B. H. Campbell upon the said renewal note of October 1, 1888, mentioned and described in this bill of complaint, and that as to the complainants the said B. H. Campbell was a principal maker of said note, and while the said Thomas D. Catlin had at all times full and actual knowledge and notice of the character of the liability of orators, yet the said Thomas D. Catlin wholly failed and neglected to institute any proceedings_ or take any steps of any kind or character against the said B. H. Campbell, or his heirs or personal representatives, or estate or property, to enforce the payment of said indebtedness,” etc. That allegation is not with reference to the note that was sued on, but was in regard to the note of, 1888, which is therein designated as “said renewal note of October 1, 1888.” After that note was given, at least two other notes were given with reference to and forming a part of this transaction, and the allegation, upon looking at the whole bill, was upon the theory of the relative position of the names of the endorsers upon the note of 1888. It is too well understood to need more than the mere statement, that the proofs must support the allegations of the bill, and that parties cannot have relief by making one case by their bill and another by their evidence. We are disposed, however, to consider the case upon its merits, accepting the view of counsel for appellants that the allegation above mentioned may be broad enough to authorize relief, if established by the evidence.

The duty of Thomas D. Catlin, if any, toward appellants arose from the statute, which is as follows: “Whenever the principal maker of any note, bond, bill or other instrument in writing shall die, if the creditor shall not, within two years after the granting of letters testamentary or of administration, present the same to the proper court for allowance, the sureties thereon shall be released from the payment thereof to the extent that the same might have been collected of such estate if presented in proper time; but this section shall not be construed to prevent the holder of any such instrument from proceeding against the sureties within said two years.” (Hurd’s Stat. 1899, chap. 132, sec. 3.) Unless appellants have brought themselves within the terms of this statute, it is apparent they are not entitled to the relief prayed, or any relief.

Appellants have admitted of record that B. H. Campbell was not a principal maker of the note in the ordinary acceptation of that term, and their position is, first, that B. H.

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Bluebook (online)
68 N.E. 773, 205 Ill. 108, Counsel Stack Legal Research, https://law.counselstack.com/opinion/tinker-v-catlin-ill-1903.