Greene

Between July 16, 1914, and September 14, 1914, the Levinson Company, a corporation, Joseph Levinson, and A. L. Brown executed three promissory notes, aggregating $40,000, to three ■different banks in the city of Seattle. Levinson was the owner of all of the capital stock of the Levinson Company, and at'his request and for his sole benefit Brown signed the notes as surety only. On various dates between December 11, 1914, and May 8, 1915, Brown paid the three notes, principal and interest, and took indorsements without recourse. On the 27th day of June, 1919, Levinson was adjudicated a bankrupt; both the Levinson Company and Brown having been so adjudicated some time previously. C. D. Clinton was appointed trustee of the Brown estate, and acted as such until the 8th day of December, 1919, when a meeting of creditors was called to consider the question of the sale of the remaining assets. At that meeting Clinton resigned as trusted’ in order that he might become a bidder at the sale, and Frank D. Hill was appointed trustee in his place and stead. On the 20th day of December, 1919, Clinton received a bill of sale from the trustee of the Brown estate, describing the property purchased…