Haensel v. Pacific States Savings & Loan & Building Co.

CHIPMAN, C.

Plaintiff Haensel became a stockholder in defendant company to the extent of thirty shares, of the par value of $3,200. On these shares he had agreed to make certain monthly payments and to pay certain fines in default of prompt payment. After becoming a shareholder, he borrowed from the company, on June 8, 1891, under its regulations relating to loans to members, the sum of $1,500, in accordance with the terms of the bond and mortgage executed by himself and wife, set out in the complaint. He paid the monthly dues upon his said shares, and all fines imposed, and interest on the loan to. August, 1895, but since said date he made no payments of any kind. He alleged in his complaint that he gave notice to the company that he desired to withdraw his shares of stock arirl accredit them on his loan, which the company’s regulations permitted him to do, on certain conditions, and that he be

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permitted to pay the balance due and have the mortgage canceled ; that the amount then due was about $618.08; that the company refused, and still refuses, to accredit him with the moneys received by it, and refused, and still refuses, to account to plaintiffs for said moneys; that plaintiffs desire to pay any balance, “whenever said amount due on said loan shall be ascertained and fixed by the superior court,” the company thereupon to cancel said mortgage. Plaintiffs executed a second mortgage to the defendant Humboldt County Bank, and a third mortgage to defendant Allard, and plaintiffs made the bank and Allard co-defendants, and set out their mortgages, and alleged that they are due and unpaid. They pray for an accounting with defendant company, for a credit on the mortgage of all payments made, and upon payments being made that the mortgage be canceled; that the court enter a decree granting plaintiffs a reasonable time in which to pay the amount found to be due the defendant company; and that' plaintiffs and all persons claiming under them subsequent to the company’s mortgage be foreclosed of all equity, etc. They ask that the mortgaged property be sold and the proceeds applied, first, to the payment of the company mortgage; second, the Humboldt Bank mortgage; and, third, the mortgage of Allard. By order of court, one Johnson was brought in as a defendant, as assignee of the Allard mortgage. The defendants all answered, and, by cross-complaints, the company, the Humboldt County Bank, and Johnson, asked to have their several mortgages foreclosed. The court found the amounts severally due to defendants on the mortgage indebtedness of each, and made full findings of fact, and entered the .usual decree of foreclosure. Plaintiffs prepared and filed a bill of exceptions and assigned certain errors, but, as they make no mention of these in their brief, we assume that the appeal is here from the judgment and on the judgment-roll alone.