Mox

This is an action to recover on a promissory note executed by the defendants Gustav and Otto Mox and J. L. Deane for the payment of $25,000. The answers admitted due execution of the note, but pleaded want of consideration and usury. The trial took place before the court and judgment was given in favor of plaintiff for the full amount of the note and interest; and from such judgment the defendant Gustav Mox has appealed. The appeal was taken on the judgment-roll alone, and the sole question presented is the legal sufficiency of the findings to support the judgment.

It appears from the findings that defendants owned approximately sixty-five per cent of the outstanding stock of Mox, Incorporated, which was engaged in the business of selling lumber; and in October, 1925, plaintiff agreed to lend the corporation such sums of money as it might require to operate its business, taking as security therefor the assignment of book accounts due the corporation. Up to February, 1927, there were some seventy-five separate loans made, the amounts advanced being equal to sixty per cent of the face value of the accounts taken as security therefor; and the total amount thereof aggregated several…