Rensselaer Semi-Weekly Republican, Volume 37, Number 36, Rensselaer, Jasper County, 9 May 1905 — Chapman vs Kannal Case Decided. [ARTICLE]

Chapman vs Kannal Case Decided.

Judge Hanley tendered his decision iu the case of Chapman and Thompson vs Harvey J. Kannal, this forenoon. Tais is one of the many oases growing out of the MoCoy bank failure. It seems that in January 1904 Mr. Kannal gave three note 3 to s9oure the payment of an overdraft of something over $3,000 then due at the bank, Oae of theee notes for $1,107 is held by Mi. Chapman as trustee of the McCoy bank and the other by Delos Thompson, as endorser of the note. Mr. Chapman brought suit on his and Mr. Thompson followed with a cross complaint and the oases were combined. It seems that last September Mr, Kannal deeded the residence on south River street to his mother and the deed was put on reoord lest Janaary. The oase turned principally on the point whether this deed should have the force of a deed and actually convey the property to Mrs. Kannal or only be considered a mortgage to secure the debts due her from her son. The Court held that it was only a mortgage, which deoision is considered a victory for Chapman and Thompson. Judgment was given them for some $2,300 bat against whioh is to be oredited $9lB paid into oonrt by Mr. Kannal daring the progress of the tiial.