460 HIGH COURT OF CHANCERY.
[The facts in this case are stated in the Chancellor's opinion.]
THE CHANCELLOR:
The question now to be decided, upon the petitions of the
Farmers' Bank of Maryland, and the answers thereto, relaten
to the disposition of the sum of $1,638 13, paid into court
under the order of the 25th of June last.
It appears, that on the 11th of September, 1848, the bank
recovered judgments against Stewart, upon his acceptances,
which it had discounted. The judgments were recovered in
Baltimore, the place of Stewart's residence, and executions is-
sued upon them to May term, 1849*, of the County Court, were
returned nulla bona, by the sheriff.
Prior to this, to wit, on the 18th of March, 1848, the decree
in this case passed for the sale of certain real estate, situate in
Anne Arundel county, which had been mortgaged by the de-
fendant, Stewart, to the complainant, to secure the payment of
a debt due him. A sale under this decree was made on the
22d of June following, which, by consent of parties, was rati-
fied on the 2d of the then ensuing month of October. After
satisfying the claim of the mortgagee, and the expenses of the
suit, there remained a surplus of $2,521 73, which was, by the
report of the Auditor, assigned to the mortgagor, and this report
was on the 11th of the same month and year ratified, and the
proceeds, in the usual form, directed to be applied by the trus-
tee accordingly.
On the 16th of March, 1849, the bank filed a petition in the
cause, in which, exhibiting its judgments and the proceedings
upon them, and alleging that Stewart had no other property in
the county of Baltimore or elsewhere, and insisting that their
judgments were to be regarded as liens upon the surplus pro-
ceeds of sale assigned to Stewart, which was to be treated as
real estate, they pray that the said surplus may be so applied,
and in the meantime, and until the matter can be heard and
decided, that Stewart may, by injunction, be restrained from
transferring or assigning the same, and that the trustee may be
required to pay the money into court.
|
![clear space](../../../images/clear.gif) |