Talk:City National Bank v. Hunter

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Edition:	City National Bank v. Hunter, in the live-stock commission business at East St Louis, Ill, made an arrangement with John O'Neal, who resided in Van Zandt county, Tex, and was buying and shipping cattle from different points in that state, by which they were to furnish O'Neal money to buy cattle during the spring and summer of that year, to be consigned to them for sale The dealings between them resulted in an indebtedness to Hunter, Evans & Co to a considerable amount, and, on the 20th day of August, O'Neal executed two notes for $11,000 each, payable to Hunter, Evans & Co, and as security for their payment gave them a bill of sale on his O N brand of cattle, further described as being his home stock of cattle; and on the same day, and as part of the same transaction, Hunter, Evans & Co executed and delivered to O'Neal a defeasance, providing for the cancellation of the bill of sale when the notes were paid It seems to be conceded that this chattel mortgage was never properly recorded in accordance with the statute of Texas, which provided that every chattel mortgage not accompanied by immediate delivery, and followed by an actual and continued change of possession of the property mortgaged or pledged, should be absolutely void as against subsequent purchasers and mortgagees or lienholders in good faith, unless such instrument, or a true copy thereof, were forthwith filed in the office of the county clerk of the county where the property should then be situated While O'Neal was conducting his business with Hunter, Evans & Co, he obtained money from the City National Bank of Fort Worth, which was repaid by drafts drawn on Hunter, Evans & Co either by O'Neal or by William Hunter, the agent of Hunter, Evans & Co, which were duly honored by the latter, except one draft dated November 15, 1879, for $9,35403, payment of which was refused; whereupon, on the 10th day of December, 1879, O'Neal gave his note to the bank for $9,81011, the amount of said draft and interest, and executed a mortgage as security on his home stock of cattle branded O N, subject to the bill of sale to Hunter, Evans & Co, and also of his cattle branded H, and H I, and one hundred head of horses, mares, and colts branded O N, which mortgage was recorded by the county clerk of Van Zandt county, December 16, 1879 .
Source:	City National Bank v. Hunter from http://bulk.resource.org/courts.gov/c/US/129
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