The Federal Reporter with Key-Number Annotations, Volume 250: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States, August-October, 1918. Page: 38
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250 FtEDERAL REPORTER
land, less than one-seventh of the whole. They have already paid
$92,808, more than six-sevenths of the total amount required to take
up the assumed notes of Hurt. This lien was discharged, and they
ought no longer to be called upon to make payments measured by it.
It having been paid, not more than the $187,000 of notes given to Hurt
remained unpaid. They had the right to releases by paying their pro-
portionate part of this amount remaining unpaid. It was the obligation
of the purchaser to pay the assumed notes. It was the right of the
subpurchaser that they be paid. The status created for them by its
payment could not be injuriously affected by any person other than
To further elucidate the views expressed: After the payment of
the $50,000 there remained unpaid the notes due to Garrett, $106,-
058.80, and the notes due to Hurt, $187,321, a total of $293,379. To
have secured a release at that time, the required amount per acre would
have been determined by dividing the $293,379 by the total acreage,
85,844, and the result would have been $3.41 per acre. About Decem-
ber 1, 1908, the $106,058.80 was paid. Other payments to that time
reduced the debt (according to the auditor whose report was the basis
of the judgment) to $129,617. There had been released to this time
(according to the list furnished by plaintiff) 35,642 acres, leaving a
balance of 50,202 acres. The debt, divided by the acreage, would give
as a result 2.58. At that time the subpurchaser would have had to
pay, to be entitled to a release, $2.53 per acre. Between December
1, 1908, and December 1, 1912; the debt was reduced $63,102, leaving
unpaid $66.515 (auditor's figures). During this period 34,020 acres of
the land were released. The persons securing releases, instead of
paying $2.58 per acre, paid on an average $1.85 (interest excluded in
both cases). After December 1, 1912, in order to secure a release on
the balance of the land, 16,182 acres, it would have been necessary to
pay $4.16 per acre, the result of dividing $66,515 by 16,182. The in-
crease from $2.58 to $4.16 resulted from giving releases for less than
could have been demanded. The interest for the period between De-
cember 1, 1908, and 'December 1, 1912, would have been 24 per cent.,
and would have increased the $2.58 to $3.20. To the date of the de-
ciree, March 5, 1917, 8 years and 3 months, the interest would have
increased the $2.58 to $3.85. Appellants, instead of paying $3.85 per
acre, are compelled by the decree to pay more than $6 per acre.
Appellants' contention that the amount to be paid by them was to be
determined without adding interest to the purchase price is entirely
without merit. The interest provided for is a part of the purchase
price. While nothing could be done by any one else to injuriously af-
fect their status, and while they were entitled to get the benefit of any
payment which the purchaser might have made, if, the amount pay-
able to secure a release having become fixed, the subpurchaser fails
then to demand a release, the amount payable necessarily increases
with the accruing interest. The evidence indicates that the appellants,
before suit was instituted, were undertaking to discharge whatever
amounts might be necessary for them to pay in order to secure releases.
They made tender of the amounts which they thought due. The plain-
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The Federal Reporter with Key-Number Annotations, Volume 250: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States, August-October, 1918., legislative document, 1918; Saint Paul, Minnesota. (digital.library.unt.edu/ark:/67531/metadc38821/m1/53/: accessed April 20, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.