McGowan

This action was brought to recover from the defendants, as stockholders of the Pacific Bank, their respective proportions of certain debts and liabilities of the bank, alleged to have been due and owing to depositors therein, and to have been assigned to the plaintiff.

The court below gave judgment for the plaintiff as prayed for, from which and.from an order denying a new trial the defendants appeal.

It appears from the record that the Pacific Bank was incorporated in February, 1863, by the name of the “Pacific Accumulation Loan Company,” and with a capital stock of five million dollars, divided into fifty thousand shares of the par value of one hundred dollars each, under the provisions of an act of the legislature of this state, entitled “An act to provide for the formation of corporations for the accumulation and *62 investment of funds and savings,” passed April 11, 1862. (Stats. 1862, p. 199.) By this act corporations organized under it were authorized “to loan and invest the funds of the corporation, to receive deposits of money, and to loan and invest the same.”

In March, 1866, an act was passed by the legislature, •entitled “An act to authorize the Pacific Accumulation…