Rensselaer Semi-Weekly Republican, Volume 36, Number 84, Rensselaer, Jasper County, 14 June 1904 — Judge Hanley Approves the Contract. [ARTICLE]

Judge Hanley Approves the Contract.

Judge Hanley has examined the contract entered into between Assignee Chapman and the McCoys and wives, heretofore described, and the contract is now in full force and binds both parties. The Judge believes that the contract is an excellent one for the creditors of the bank so long as the McCoys are determined to hold all the law allows, anyhow, as it straightens out numerous compjications, that could not otherwise have been straightened, except by long and doubtful litigation. The provisions of the contract are as previously stated, except that we was in error in saying that A. McCoy’s half interest in the 519 acres in Union, would be exempt from the wife’s dower of one fifth. All the land that is clearly exempt is half of 320 acres in Gillam and 40 acres in Barkley; though 400 acres of the Jordan land may prove exempt also, as it is claimed that it was bought by money belonging to the bank firm of A. McCoy & Company. As before stated, the mortgages on these various pieces of j real estate are to be paid before the wives get their fifths. This was a concession they were not obliged to make under the law, and means about $1,500 more for the benefit of the depositors. 1