| On
December 7, 1968, a case brought by the First National Bank of
Montgomery against Jerome Daly was heard by Credit River
Justice of the Peace, Martin V. Mahoney. The case concerned a
$14,000 mortgage granted to Mr. Daly in May of 1964 against
property that he owned and that the bank now claimed was in
default.
Mr. Daly
claimed that the local bank along with the Federal Reserve
Bank of Minneapolis had improperly booked the mortgage and in
effect "created money" without the legal right to do
so.
The case has
sparked a great deal of controversy and speculation as you
will note exploring the links listed on the right.
Interesting
to local residents is the fact that the decision was rendered
in what was then the Credit River Town Hall located on the
Southeast corner of Highway 27 and 68.
The Township
gets calls periodically for information on the case and
typically refers these to Scott County Court Administration
where the file is kept. |