100 Iowa 536 | Iowa | 1897
On the twelfth day of February, 1895, the plaintiffs, the Fowler Company and Rider-Wallis Company, were creditors of the defendant Alexander McDonnell. He was then in the business of retailing merchandise at New Hampton, Iowa, and had been so engaged for one or two years. The debts due to the plaintiffs were contracted for merchandise he purchased of them. On the day specified, an agent of one of the plaintiffs called on McDonnell at his place of business, for a statement of the amount due his principal. After some conversation, McDonnell went out and executed to his wife and co-defendant, Alice McDonnell, a mortgage on all of his stock of merchandise* and book accounts. ’ The property mortgaged included about all he owns which is subject to execution, and he is insolvent. After the mortgage was given, the plaintiffs commenced actions against McDonnell to recover the amounts due them. The actions were aided by attachments, which were levied 'upon the mortgaged stock of merchandise, and a receiver was afterwards appointed, on the application of the plaintiffs, who took possession of the attached property, and has sold nearly all of it. The plaintiffs ask that the chattel mortgage be adjudged to be fraudulent and void as against them, that it be canceled, that their lien be established against the property, and that the receiver be required to pay to them the proceeds of the attached property.