Arbogast v. . Corporation Commission

On and prior to 21 April, 1930, the Central Bank and Trust Company of Asheville, N.C. owned certain notes and bonds, on which the plaintiff, John C. Arbogast, was liable as maker or endorser. All these notes were past due. Some of the said notes were secured by the deeds of trust on lands executed by the plaintiffs; others were secured by collaterals, and others were unsecured. The aggregate amount of said notes was $127,573.59.

It was agreed by and between Wallace B. Davis, president of the Central Bank and Trust Company, acting for and in behalf of said company and the plaintiff, John C.…