Ainsworth v. National Bank

— On the twelfth day of December, 1924, Charles F. Ainsworth and Eliza Ainsworth, his wife, hereinafter called defendants, were indebted to the National Bank of Arizona, a corporation, hereinafter called plaintiff, in the sum of some $18,000, which debt was evidenced by a promissory note and secured by a pledge of two certificates of stock in the Grila Water Company, numbered 86 and 87, and representing one thousand shares of such stock. The indebtedness being at that time overdue, plaintiff informed defendants that, as a condition for a renewal of the loan, they would be compelled to give…