H. O. Maraman to Mercantile Trust - Mortgage Foreclosure

An agreement between Heny O. Maraman and Henry J. Barns of Mt. Washington involved their joint venture into developing and improving the water power of Salt River along the stretch of the river bordering Shepherdsville that Maraman had purchased from Wilhite Carpenter. Maraman then mortgaged his two farms to the Mercantile Trust Company of the City of New York to obtain a $5000 loan to complete the work on his mill dam. To increase his investment, Maraman consolidated his various debts into one mortgage to R. J. Meyler. However, Maraman was unable to meet his financial obligations and the Trust Company through their trustee sued for foreclosure, and the mortgaged property was sold by the court with the company being the purchaser, as shown below.

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Bullitt County Deed Book W, Pages 78-80

Whereas on 27 June 1878 the Bullitt Circuit Court rendered a judgment in the cause of Lewis Fitzgerald, trustee et al against H. O. Maraman and wife, directing the master commissioner to sell so much of the two tracts of land herein conveyed as would realize the sum of money adjudged to said plaintiff by said judgment, and on 9 October 1878 said commissioner filed his report of the sale which was confirmed by the court on 11 October 1878.

It appearing from said report that the master commissioner advertised the time, place, terms of sale and property to be sold as directed by said judgment, and having it legally appraised which resulted in the 569 acre tract being appraised at $5690, and the 106 1/4 acre tract at $1275, did on 19 August 1878 at the courthouse door of Bullitt County, Kentucky expose said property publicly to sale to the highest bidder on the terms named in the judgment; when the Mercantile Trust Company of the city of New York, being such bidder, bought the 569 acres at the sum of $3800 and the 106 1/4 acres at $855, and being the owner of the debt for which the property was sold, and it having sold for over 2/3 of its appraised value, the court on 11 October 1878 ordered the master commissioner to execute a proper conveyance to Lewis Fitzgerald, trustee for same.

Therefore this indenture witnesseth, that Henry O. Maraman and Elmira Maraman his wife by R. McConathy, master commissioner of the Bullitt Circuit Court, in consideration of the premises and said sums of money, doth convey unto Lewis Fitzgerald, trustee, all they're title (including right of homestead and potential dower) to the aforesaid tracts land and their appurtenances, to have and hold the same in fee simple forever.

Said tracts of land lie on south side of Salt River in Bullitt County, Kentucky and bounded as follows: the 569 acres, beginning at two Willows in the Bank of Salt River, upper corner to J. B. English thence up Salt River with its meanders 122 poles to a stake corner to Robert Simmons' heirs, thence South 22° East 150 poles to the Bardstown Road, and same course in all 330 poles to gum and red oak, thence South 71° West 48 poles to a beech, South 18° East 124 poles to a white oak stump with a walnut in it, thence South 19 1/2° East 160 poles with an old burned fence to a white oak blazed, thence, with another burned fence South 78 1/2° West 27 poles to three chestnut oaks, N. Crigler's old corner, thence with said line of Crigler's South 55° West 106 poles to three pines in Bowman's line of 1000 acres, thence with said line North 64° West 98 poles to a stake in the Elizabethtown Road corner to the Curd tract, thence with the road and Curd's line to a stake in the road, thence with Bright's line North 51 1/2° East 80 poles to Bright's corner, chestnut oak and red oak, thence with another North 48° West 29 poles to a white oak, thence North 15 1/4 poles to a pile stone between a hickory and black oak stump, corner to Hatzell, thence with his line North 70° East 100 poles to a stake about 10 feet eastwardly from an elm, thence North 1° East 65 2/3 poles to a maple and red oak, thence North 76 1/2° West 56 poles to a stake in Honey's line, thence with the same North 13° East 15 1/4° poles to a stake, corner to Hatzell and W. Carpenter, thence with Carpenter's line North 6° East 36 3/4 poles to a stake, North 64 1/2° West 61 1/2 poles to a cedar post, thence North 25 1/2° East 38 1/2 poles to a cedar post on the South side of the Bardstown Road, Carpenter's corner, thence North 89 1/4° West 32 1/5 poles to a stake on the north side of said road corner to J. B. English, thence with his line North 7° West 96 poles to the beginning.

The second tract of 106 1/4 acres, Beginning at a stake on the bank of Salt River, being North 88° West 10 poles from an elm on the bank of Salt River, being the beginning corner to Frank Maraman's 738 acres allotted to him in the first Maraman division, thence with the line of land dated by said F. Maraman to Wilhite Carpenter for 35 1/2 acres South 38 1/2° West 160 poles to a stone, a corner to 112 1/2 acres deed by said Maraman to James Moore, thence with said line South 61° West 129 1/4 poles to a stake near a forked red oak, formerly a corner to Frank Maraman's (dec'd) children, also a corner to Martha A. Maraman's dower as shown in Will Book F, page 322, thence with said dower line North 5° East 168 poles to a forked elm on the bank of Salt River, thence up the river with its meanders 7 feet above low water mark to the beginning.

Witness the signature of the master commissioner this 11th October 1878. (signed) R. McConathy, Master Commissioner, Bullitt Circuit Court.

Examined and approved, October 11, 1878. S. E. DeHaven, Judge, 17th Judicial District of Kentucky

I, R. McConathy, clerk Bullitt Circuit Court, certify that on this day the foregoing deed of H. O. Maraman and wife to Lewis Fitzgerald, trustee, was produced in said court and acknowledged before the same by R. McConathy, master commissioner, Bullitt Circuit Court, to be his act and deed on behalf of said grantors therein. It was then examined and approved by the court and ordered to be certified to the proper office for record. Witness my signature this 11th October 1878. (signed) R. McConathy, Clerk, Bullitt Circuit Court.

State of Kentucky, Bullitt County, S.S. I E. W. Hall, clerk of the Bullitt County Court in the State of Kentucky, do certify that on the 20th day of November 1878 the foregoing deed from H. O. Maraman and wife by commissioner to Lewis Fitzgerald, trustee, was lodged in my office and ordered to be recorded, which being duly authenticated I have truly recorded with this and the foregoing certificate in my office this the 2nd day of December 1778. (signed) E. W. Hall, Clerk

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