Felton

October 1,1870, Juana I. Estadillo and others, owners of the Guadalupe rancho, in Santa Barbara County, and of the San Leandro rancho, in Alameda County, and certain other real and personal property in Alameda County, executed to Theodore Le Roy a deed of conveyance of said property, in trust, to sell and dispose of the same, and out of the proceeds to pay certain indebtedness on their part to himself, specified in the instrument, with interest, and such sums as should be afterwards advanced by him to them; and also all taxes, liens, costs, and legal expenses which might be paid or incurred by him in managing the property and protecting the title thereto. The property had been in litigation for several years, and was at this time heavily encumbered, but measures had been agreed upon by which it *461 was to be removed from litigation, provided a loan could be effected sufficient to pay off the various claims. In this emergency, Mr. John B. Felton, who had been attorney for the Estudillos in their litigation in reference to the property, applied to Le Roy to loan them money with which to free the property from its encumbrances, and to take the property himself as security for such…