Samuel Overton asks that Dr. Luther Bigelow be summoned to answer his charges of usury and that a slave family be sold to satisfy a debt owed to said Bigelow. He admits that he was "much embarrassed in his circumstances, and greatly in want of money to pay his debts" in 1825 and that he "called on" said Bigelow, seeking a loan to cover his debts. He further reports that Bigelow, purportedly "a man of honesty and fair dealing," agreed to an indenture for $500, which was to be paid off in 3 months, at an interest rate of 25%, "provided also that your Orator would execute a deed of Trust for five negroes." He reveals that he did not pay the note on time and that Bigelow "called on your Orator to renew said note for three months longer, adding 25 per cent interest more on the original sum." Stating he was forced to renew the note a third time, Overton charges that "said Defendant had by fraud, covin and usury, converted his five hundred dollar debt into a claim on your Orator for the sum of nine hundred and fifty dollars." He claims that Bigelow said he would sell the mortgaged slaves in order to "purchase them at a less price," which forced him to convey said slaves. Overton prays that Bigelow account to the court and that "he receive what may be justly due him after said account."
Result: Dismissed; appealed; affirmed.
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Repository: Tennessee State Library and Archives, Nashville, Tennessee
