Jasper County Democrat, Volume 7, Number 10, Rensselaer, Jasper County, 11 June 1904 — AN OLD DEED TURNS UP. [ARTICLE]

AN OLD DEED TURNS UP.

The McCoy bank building was to have beensold by the assignee Tuesday, but the springing of an old deed, executed some twelve years ago, and conveying the bank property from Alfred McCoy to his wife, put a dampner on prospective bidders, and no sale has yet been made, although an offer of $16,000 for the four-fifth interest that can only be sold was made by Delos Thompson. This is a valuation of $20,000 for the whole property. This deed had never been placed on record, but its appearance at at this time, and the stand the McCoys took in the matter showed that they propose to hang on to all the property possible. A compromise in the deed matter has finally been made between the assignee and Mrs. McCoy, which must yet be sanctioned by the court, whereby the latter gives up or destroys this deed and all the individual real es'tate is to be sold entire and the one-fifth dower rights of all money received from same is to be paid over to the wives of the McCoys, they to join in all deeds of property. This will give them probablv $35,000, and add to this SIO,OOO to $15,000 which their private residences are worth, and it will be seen that they will clean up about $50,000. Regarding the interest the wives have in this real estate we are told that they could hold one-fifth up to $20,000, and an inchoate one-fifth interest in all other real estate, but this latter interest would not mature until the death of their respective husbands. Should the wives die first the interest would never mature, for they would have no interest. Under the agreement signed by both the McCoys and their wives they are to receive one-fifth of what the bank sells for, also onefifth of the proceeds of sale of the Jordan township land, “Jerg’’s Island” and some lots in ensselaer. Lee Jessup has filed a mechanic’s against A. McCoy for $119.50, on lands in Hanging Grove. A mortgage for $6,000, executed June 3, by Mattie A. Rinehart (A. McCoy’s daughter) to Gott-

leib Deirling, on lands in Hanging Grove township, was filed for record this week.

B. S. Fendig has secured the amount he was owing the defunct bank by executing a chattel mortgage for $5,838.02, and a real estate mortgage for the same amount. Both mortgages are for the one claim, $5,338.02, we understand.

A petition was filed in the circuit court Tuesday, signed by “J. J. Fry, cashier, Myrt B. Price, Joe Jackson, A. J. Brenner, John Makeever,” asking that the McCoy bank building be leased to Delos Thompson for the period of one year at the rental of $175 per month and that the order of sale heretofore made by the court be set aside and said sale be postponed for one year, alleging that it would be to the best interests of the creditors that said lease be extended as above set forth. The petition was overruled. 10 per cent off all lace curtains during the June clearance sale at the Chicago Bargain Store.