138 Mo. 17 | Mo. | 1897
On the fourth day of June, 1889, James C. Nettleton and Virginia P., his wife, borrowed of the defendant the sum of $20,000, for which they executed their promissory notes of that date as follows, viz.: One principal note for $20,000, payable to the said insurance company five years after date, and ten semiannual interest notes payable to said company, successively in six, twelve, eighteen, twenty-four, thirty, thirty-six, forty-two, forty-eight, fifty-four and sixty months after date, all of said notes payable with interest thereon at the rate of six per cent per annum after maturity, at the office of said insurance company in the city of New York; and on the same day duly executed their deed of trust, conveying to James H. Austin lot 18, in block 20, in Asburne’s addition to the city of Kansas, fronting twenty-five feet on Baltimore avenue and running back one hundred and forty-two feet, to secure the payment of said promissory notes and interest, with power of sale in case of default in the payment of said notes or either of them according to
Default having been made in the payment of the interest note for $600 due on the fourth of June, 1893, and in the payment of the state and county taxes due and delinquent on the first of January, 1893, and the city taxes due and delinquent on the first of September, 1893, the trustee in pursuance of the power contained in said deed of trust, advertised and on the twentieth day of October, 1893, sold at public vendue, and conveyed the premises by deed dated the twenty-first of October, 1893, to the defendant insurance company for the sum of $21,000. Thereupon, on said last mentioned day, the plaintiffs instituted this suit setting-up in the petition, in substance, that the said Lipscomb
The sale took place at the period of the great monetary stringency in 1893. The evidence tended to prove, that while this property was prior thereto worth about $35,000, that at the time of the sale its market value was not more than it sold for. The property was advertised, sold, and the deed made in strict compliance with terms of the deed of trust, and there is no evidence of hai’shness, oppression, or unfair dealing in the whole transaction. There were no other bidders at the sale, and no other bids made than that made by the defendant through its attorney, the said Archibald