Gonzalez & Co., Brokers, Inc. v. Thomas

When S. W. Ellery, superintendent of banks, the predecessor of the plaintiff Lloyd Thomas, took over the Sonora Bank and Trust Company, an insolvent, he found among its assets a note for $3,000, dated September 10, 1931, payable to the bank four months after date, and signed by “Gonzalez & Co. Brokers, Inc. F. J. B. Gonzalez, Mgr. (and) F. J. B. Gonzalez” as makers. Thereafter, on May 25, 1932, the superintendent of banks brought this action on the note alleging the balance due thereon, after crediting all payments, was $1,500 principal and $25.69 interest.

The defendants admit the execution…