Laugharn

This was a suit by a trustee in bankruptcy to set aside a transfer of stock from the bankrupt to his wife. The facts are substantially as follows: In the year 1911, Mabel P. Welch, the wife of the' bankrupt, with her own funds, but through the agency of her husband, purchased 50 shares of stock in Gunst & Co. for the sum of approximately $2,000, and about a year and a half later an additional 25 shares for approximately $1,000. - The two certificates of stock were issued in the name of the husband, who indorsed them and placed them in an envelope marked “Property of Mabel P. Welch.” The wife then delivered the certificates to her father, who deposited them in his safe at Livermore with other papers belonging to her. The certificates apparently remained in this custody until 1919, when they were transferred to the wife on the books of the Gunst Company. February 19, 1919, the Welehs opened an account with the Farmers’ & Merchants’ National Bank of Los Angeles, and signed an agreement reciting that the account was opened and held by them in joint ownership, with full right of survivorship; the account to be payable to their joint or several order during their lives, and upon the…