Wilshire

The action is based on a written instrument, signed by appellants, and reading as follows:—

The above instrument was placed in the hands of the Citizens’ Bank, together with a duly signed written escrow agreement, as follows:—

The findings show that, on the faith of the foregoing instruments, and other instruments of like character executed by other parties, who, like defendants, were the owners of property that would be made valuable by the construction of the proposed road, the plaintiff, in November, 1895, less than four months from the execution of said instrument, bid and paid to the city of Los Angeles $1,505 for a franchise to construct the road over that part of the course agreed upon and within the city limits. Before the 28th of April, 1896, the plaintiff commenced xork upon said railway, but said work was not performed,- with the intention of prosecuting the construction of said railway continuously and with diligence to completion, and the plaintiff did not so commence work upon said railway with said purpose until after the first day of July, 1897. On\ July 1,1897, defendants served upon plaintiff a written noticel to the effect that they did not recognize any…