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JUDGE CHURCH SUSTAINED. In the Stepanek Case the Supreme Court Sustains Decision in Favor of Omaha Bank. There was an opinion handed down by the supreme court on Thursday morning last. that is of more than passing interest to many. It again brought to view that a chattle mortgage to be good must be so explicit as to allow no possibility of misunderstanding to what property is covered. It seems that during the career of H. S. Green, of Dow City, J. W. Stepanek made to him a note for $2000.00, and a mortgage securing the same, covering sixty-five head of three year old steers, each marked with round hole in the right ear. This note was subsequently sold by Mr. Green to the Des Moines National Bank, and carried with it the assignment of the mortgage. Later Mr. Stepanek made another note of $4000.00. to take up the first one, and borrowed money, and made to secure the payment of the same a chattel mortgage covering 100 head of three year old steers. marked with round hole in the right ear. This note, H. S. Geen sold to the Central Trust Company. a banking corporation. in Chicago, III., and the sale of the note carried with it, the assignment ot the mortgage. Subsequently Mr. Stepanek made another note for $3800.00, to take up the $4000.00 note, and executed a chatttel mortgage securing the payment of the same on 100 head of three year old steers, marked with round hole in the right ear. and this note was sold to the Merchants National Bank of Omaha. Neither of these parties obtained a written assignment of their respective mortgages, but allowed the same to stand of record in the name H. S. Green. who, before the making of the last named one, satisfied of record the one then held by the Des Moines National Bank, and the Central Trust Company. Following the Green failure. the Central Trust Co. of Chicago, and the Des Moines Bank practically united their forces, and sued to foreclose their mortgages and for the appointment of a receiver to take possession of the cattle found in Stepanek's possession. Mr. Meehan, the sheriff was appointed a receiver for that purpose, who took. shipped and sold the cattle, and received the proceeds thereof. Thereafter, a fund of something over $2000.00 was, by order of Judge Powers in Carroll released from the lien of the receivership; turned over to Stepanek. He in turn, paid it over to various parties, and the Central Trust Company. who had previously sued to foreclose its mortgage, commenced an action to get hold of the fund thus released, SO that the case was that of the Central Trust Company VS. Stepanke, Defendant; Merchants National Bank and others, Intervenors. The cause was tried to Judge Church, without a jury, and presented some nice legal points. It was contended by the Merchants National Bank of Omaha, that when the mortgage was made, claimed under by the Des Moines National Bank. Stepanek had something like one hundred eleven head of s'eers, each similarly marked, and sixty-five thereof covered by the mortgage held by this bank, and that when the mortgage was made. claimed under by the Central Trust Co. that Stepanek had one hundred one head of steers. some having died since the making of the mortgage claimed under by the Des Moines National Bank; and that therefore both these mortgages were void, because being too indefinite in description, it being impossible to identify the individual steers covered by either of these mortgages from the instrument itself. and such inquiries as it would suggest. When the mortgage under hich the Merchants National Bank claimed was made covering 100 head, the mortgagee had just 100 head. Judge Church believing that the law was on the side of the Merchant National Bank of Omaha, that the mortgages under which the Des Moines National Bank and the Central Trust Co., claimed were void for uncertainty in descrip tion: and that they by allowing the mortgages to remain of record in the name of H. S. Green, tacitly consented to his cancelling the same of record. held that the mortgage claimed under by the Merchants National Bank of Omaha was a senior and superior lien to that of either of the other mortgages, giving it priority as to the proceeds of the cattle
