Stephens v. White

— This is an appeal by J. IT. Stephens and his wife, May Stephens, from a judgment decreeing an equitable lien to exist in favor of the plaintiff, Y. C. White, as Superintendent of Banks of the State of Arizona, on certain real property owned by them. Following a denial of their motion for a new trial they brought the matter here for review.

The record discloses the following facts: The Prescott State Bank and the Commercial Trust and Savings Bank, going concerns on November 25, 1925, were that day taken over by the Superintendent of Banks for liquidation, and among their assets were notes…