Franklin Co. v. Lewiston Institution for Savings

The claim which we are required to pass upon originated in this way :

In April, 1875, the trustees of the Lewiston Institution for Savings subscribed for $50,000 worth of' the capital stock of the Continental Mills, one of the manufacturing corporations doing business at Lewiston. The savings bank had no money with, which to pay for the stock, and in July following the Franklin Company, another corporation doing business at Lewiston, agreed to pay the $50,000 to the Continental Mills, take the notes of the savings bank for the amount, and hold the stock as security. Five *44notes for $10,000…