Tilton

(after stating the facts as above). The receipts on their faces are acknowledgments of moneys delivered to Tilton for purposes of loans for the benefit of the lenders, the sums to be returned to the persons who turned the moneys over to Tilton, together with interest at the rate of 10 per cent. Tilton's relationship to the owners of the moneys became that of an agent toward his principals. Putting aside for the instant the evidence of the houseboat transaction, it is plain that no particular loans were contemplated by the lenders, and that Tilton, who carried on a loaning business, could use his discretion in honestly making loans, subject to. the re *801 quirements that the sums be returned six months after date of his receipts to his principals, plus the prescribed interest. There is no evidence that Tilton failed to lend the moneys for which he gave the receipts, or that he made a false statement in the writings with intent to obtain the moneys delivered to him. .On the other hand, he testified that all moneys received by him from creditors in the position of Mrs. Holms were actually used, principally in. chattel loans, and partly on real estate, and that Ms boots showed a loss…