Harris

Appeal by plaintiff from judgment for defendant in an action brought to enforce contribution.

The plaintiff and six defendants were the board of directors of the Farmers and Merchants Bank of Imperial, hereinafter referred to as Farmers Bank, which was engaged in the banking business in Imperial County. In 1921 the bank became in urgent need of cash and with that need in view the directors borrowed from two other banks a total of $100,000 giving their joint and several promissory notes therefor. This money was placed in a special account in the Farmers Bank. January 2, 1922, the Farmers Bank was closed by the state banking department. The bank examiner insisted that if the bank were to be reopened this special deposit should be turned in to the general assets of the bank. This was done. At the same time plaintiff, as the representative of all of the parties herein, received from the Farmers Bank assets of the face value of approximately $100,000, but of doubtful real value. The plaintiff took these doubtful assets and endeavored to realize upon the same and apply this money on the notes given to the two other banks. Up to the time of the trial of this action he had succeeded to…