German Ins. Bank v. Fabel

• Decision Date: 20 February 1903
• Parties: GERMAN INS. BANK v. FABEL.
• Court: Kentucky Court of Appeals

72 S.W. 329

GERMAN INS. BANK v. FABEL.

Court of Appeals of Kentucky.

February 20, 1903

Appeal from circuit court, Jefferson county, law and equity division.

"Not to be officially reported."

Proceedings by Louise Fabel, as administratrix with the will annexed of the estate of Margaretha Fabel, for the settlement of her accounts, and for a sale of real estate to pay debts, in which the German Insurance Bank was made a defendant as a creditor of the estate. From a judgment allowing the defendant's claim for an insufficient amount, defendant appeals. Affirmed.

O. A Wehle, for appellant.

M. A D. A. & J. G. Sachs, for appellee.

BURNAM C.J.

The appellee, Louise Fabel, brought this suit as administratrix with the will annexed of the estate of Margaretha Fabel for a settlement of her accounts, to ascertain the indebtedness of the estate, and for a sale of a sufficient amount of real estate to pay it. Appellant, the German Insurance Bank, was made a defendant and filed an answer, in which it alleges that Margaretha Fabel on the 14th day of July, 1900, executed to it her promissory note, due four months after date, for $5,000, and at the same time pledged and delivered to it certain shares of stock owned by her, as collateral security. It admitted that the note contained $291.42 of usury, but alleged that the balance, $4,708.58, with interest from the 17th of November, 1900, was just, due, and unpaid, and asked an enforcement of its lien, and a sale of the collateral to pay this balance. Appellee replied, and denied that the alleged balance set up by the bank was the true amount due by decedent. And in the second paragraph of the reply she alleges that on the 30th day of July, 1885, F. Fabel & Sons and Margaretha Fabel borrowed from the bank $5,000, for which they executed their joint promissory note, due four months after date; that there were numerous renewals of this note by the same makers to the bank, at which interest in excess of 6 per cent. was either paid or added to the principal; that this course of dealing was kept up until the 30th of December, 1895, when she executed her individual note to the bank in lieu of the one signed by F. Fabel & Sons and herself, and that on the note so executed she paid interest at the rate of 7 per cent., and 8 per cent. per annum at each renewal thereof; and that it was finally merged in the obligation sued on--and asked that the entire usury which had been paid from the date of the original loan in July, 1885,...