Paramore v. Continental Bank & Trust Co.

• ST. PAUL, J.

On April 21, 1920, plaintiff was appointed liquidator of the Red River Land & Live Stock Company, Incorporated. Among the assets of said corporation were sundry mortgage notes resting on lands situated in Arkansas. As said notes were not paid, plaintiff foreclosed thereon and bought them in as “Liquidator or Trustee.” From year to year thereafter he furnished to the stockholders of the defunct corporation an account as “Liquidator” and showing a deficit from 5'ear to' year “advanced by the Liquidator,” which grew from $S51 in 1921 to $33,-030 in 1927.

No objection was made to…