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Call v. Palmer, the following facts: Albert C Burnham, residing in Illinois, was a partner in the firm of Burnham, Ormsby & Co, bankers, at Emmetsburg, Iowa He had in his hands for investment $10,000 belonging to his relative, one Mrs Davidson Call applied in writing to Burnham, Ormsby & Co for a loan of $10,000 Soon after the application was made, Call met Burnham at Emmetsburg, Iowa, and they entered upon a treaty for the loan Burnham, thinking Call's proposition to be a favorable one, decided to accept it for Mrs Davidson, and, after his return to Illinois, sent the money to Burnham, Ormsby & Co, at Emmetsburg, to be lent to Call on the terms proposed by him Burnham, Ormsby & Co took the note of Call dated in November, 1872, for $10,000, payable to A C Burnham, or order, on November 1, 1875, with 10 per cent interest, payable semi-annually, which Call secured by a mortgage on certain of his real estate in Iowa Call received from Burnham, Ormsby & Co $8,000 for his note; they retainining $2,000 as a compensation for their services in negotiating the loan No part of this sum was paid to Mrs Davidson did not know that it had been deducted from the $10,000 lent by her to Call, and she never authorized Burnham or Burnham, Ormsby & Co to lend her money at a greater rate of interest than 10 per cent, or to retain any commission or bonus out of the sum lent In short, she received no benefit from the usury, and had no knowledge of it A C Burnham held the note as the agent and trustee of Mrs Davidson, but subject to her control Afterwards the appellee, Palmer, who lived in New Jersey, bought of Burnham the $10,000 note of Call, with five coupon notes of $500 each, not then due, given by the latter for interest thereon The notes were indorsed by Burnham to Palmer in September, 1873, and Palmer paid therefor in cash to Burnham for Mrs Davidson the face of the principal note, $10,000, and the accrued interest In this purchase Palmer acted for himself without the intervention of any agent whatever .
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