Howell

The facts as disclosed hy the record are as follows: In the year 192.1, E. P. Howell, a cattle grower of Navajo, Ariz., now deceased, sought the assistance of his business associate, Julius Wetzler, of Holbrook, Ariz., in arranging a loan of $25,000, to be used in paying a prior indebtedness of Howell to the Arizona State Bank, of Winslow.

The precise business relations between Howell and Wetzler are not entirely made clear in'the record, for it does not disclose the earlier dealings between the two men. In one of his letters to Wetzler, however, under date of August 1, 1921, Howell stated that their business affairs were “badly mixed up.”

The earliest exhibit now before us is a letter from Howell to.Wetzler, dated July 26, 1921. In that letter Howell said: “ * * * there is only one way out. I have a chance to borrow $25,009, providing my financial statement show[s] up all right. Now there is only one way for this to be done, and this is for you to buy back a one-half interest until this $25,000 is paid off, and then I will buy it back, as I do not want to sell, but it[’s] our only way to save ourselves, and possibly can get $19,000 on the land. * * * I can pay off $18,000 next…