Robbins

In January, 1929, the Exchange National Bank of Spokane, a national banking association, was declared insolvent by the Comptroller of the Currency. At that time, appellee Samuel A. Mitchell was the owner of 123 shares of the capital stock of the association of the par value of $100 per share. Pursuant to an assessment levied by the comptroller, Mitchell became subject: to the super-added statutory liability in the amount of $12,300. He paid to the receiver of the association the sum of $2,000' in cash on account of this liability, and thereafter, about July 15, 1930, for the purpose of securing the payment of the remainder, made and delivered to the then receiver his note and mortgage in the sum of $11,-280.50. His wife joined' in the execution of these instruments. During the period: of the receivership Mitchell made payments, on the note aggregating $1,100.

In July, 1934, the receiver was succeeded by Thomas A. E. Lally, who continued to- *57 act as receiver and liquidator of the association until the summer of 1936, at which time Lally wound up the receivership, paid all depositors and creditors of the association, both principal and interest in full, paid all expenses of the…