Northern Trust Company v. Hiltgen

• Citation: 64 N.W. 909,62 Minn. 361
• Decision Date: 05 November 1895
• Docket Number: 9446-(28)
• Parties: NORTHERN TRUST COMPANY, Assignee, v. TRACY M. HILTGEN
• Court: Supreme Court of Minnesota (US)

64 N.W. 909

62 Minn. 361

NORTHERN TRUST COMPANY, Assignee, v. TRACY M. HILTGEN

Nos. 9446-(28)

Supreme Court of Minnesota

November 5, 1895

Action in the district court for Hennepin county by plaintiff, as assignee of Farmers' and Merchants' State Bank insolvent, against Tracy M. Hiltgen on a promissory note payable to said bank. From an order, Elliott, J., denying a motion for a new trial, defendant appealed. Affirmed.

The answer of defendant alleged that she was the widow of Peter J. Hiltgen, who died intestate March 24, 1893, leaving as his only heirs at law defendant and Louie Hiltgen, his daughter and that there was then on deposit in said bank to his credit $ 2,014.06; that March 30, 1893, the bank agreed to transfer to the credit of defendant $ 1,500 of said deposit, and to honor her checks to that amount; that defendant agreed that as early in the administration of the estate of said deceased as it could be done, she would procure said deposit to be assigned to her, and acquire it as her individual property that she agreed to give, and said bank agreed to accept, the promissory note mentioned in the complaint as collateral security, to indemnify said bank against any loss it might sustain by her failure in the performance of said agreement to acquire the ownership of said deposit; that it was agreed between defendant and said bank that said $ 1,500, or so much thereof as should be drawn out by defendant, should be charged to her against and deducted from said deposit as soon as the same should be assigned to her and that she should not be liable to pay said note, or any part thereof, unless she failed to perform her part of said agreement; that pursuant to said agreement, and not otherwise, defendant executed to said bank said promissory note, and said bank honored the checks of defendant to the amount of $ 1,263.09; that May 31 1893, in the probate court for Ramsey county, Minnesota letters of administration upon the estate of said deceased were issued to Thomas Jeffrey and M. D. Rhame, who August 8, 1893, on behalf of said estate, filed with plaintiff proof of the claim of said estate against said insolvent bank for the amount of said deposit, and that said claim was allowed by said assignee November 15, 1893, at $ 2,014.06; that July 31, 1894, a final decree assigning the residue of said estate was entered by said probate court whereby one undivided third of said claim against said bank was assigned to defendant, and two undivided thirds to said Louie Hiltgen; that thereafter, and before making the answer, said Louie Hiltgen for a valuable consideration assigned to defendant all her interest in said claim, whereby defendant became absolute owner thereof, subject to the right of plaintiff to deduct therefrom said sum of $ 1,263.09 in...