"Defendants, for amended answer to plaintiff's petition, admit the execution and delivery of the note sued upon in this action. For further answer, defendants say that the note sued upon was given and executed by them at the instance and request of plaintiff and for its accommodation, and that no consideration whatever passed to defendants for the same. Wherefore defendants pray judgment with costs. Defendants, for further answer to plaintiff's petition, say that in the year 1897 T. J. Boyd & Co. executed a note to the Central National Bank of Springfield, Mo., for $11,000, and to secure the payment thereof delivered to said bank as collateral security $5,000 Alton Bank stock, $6,600 Oregon County Bank stock, $400 Thayer Canning Company stock, and $4,000 Thayer Hardware Company stock; that soon thereafter said T. J. Boyd & Co. failed; that the said Central National Bank disposed of the Alton Bank stock for $3,500 and gave credit therefor on said Boyd & Co. note, leaving a balance due of $7,500; that after the failure of said Boyd & Co., as aforesaid, the said Central National Bank requested defendants to execute their note for said sum of $7,500 in lieu of and in place of the said Boyd & Co. note, and allow the $6,500 Oregon County Bank stock to be issued to them and still to allow said stock to remain as collateral security, together with the $4,000 Thayer Hardware Company stock and the $400 Thayer Canning Company stock, for the payment of said note of $7,500; that under these terms and conditions defendants executed said note at the instance and request and for the accommodation of said Central National Bank; that the stock in the Oregon County Bank, while being in defendants' names, was actually held and controlled by the said Central National Bank, and that all dividends thereon and assets therefrom were received by said Central National Bank; that said contract and agreement was made between said bank and defendants in order that it might be enabled to get the said Boyd & Co. note out of the past-due files, so that the amount thereof might be used as a live asset in said bank; that after the execution of said note as aforesaid, by defendants, said Central National Bank sold $1,500 of said Oregon County Bank stock, and gave credit therefor on said note of $7,500, executed to it by defendants as aforesaid; that defendants executed to said bank a renewal note for $5,100 and secured the same by depositing the collateral security as aforesaid with said Central National Bank.
"And defendants further say that they are informed and believe that some time in the year 1898 the said Central National Bank was merged into the National Exchange Bank, the plaintiff herein; that by reason of said merger as aforesaid this plaintiff came into the possession of the $5,100 note executed by defendants to said Central National Bank, together with all of the above-mentioned stock deposited as collateral security for the payment of said note, in all amounting to $9,500; that after said plaintiff had come into the possession of said note and collateral security, and about eight months after the maturity
of said note, these defendants, at the request of plaintiff and for its accommodation, executed to plaintiff the $5,200 note now in suit, and deposited as collateral security for the payment thereof the $4,000 Thayer Hardware Company stock, the $400 Thayer Canning Company stock, and the $5,100 Oregon County Bank stock, hereinbefore mentioned; that no consideration whatever passed to defendants for the execution of said note and for the deposit of said stock as security therefor; that after said note was executed to plaintiff by defendants, as aforesaid, plaintiff sold the $4,000 Thayer Hardware Company stock, at par value, and that no part of the proceeds of the sale of said stock was ever credited upon said note, but that plaintiff wrongfully and without authority converted the proceeds of the sale of said stock to its own use. Wherefore, defendants pray that plaintiff be required to make an accounting to them for the amount realized from the sale of the said Thayer Hardware, Company stock, and the disposition of the other collaterals aforesaid, and that upon such accounting defendants have judgment against plaintiff for the amount of the proceeds found to have been received by it for the sale of said stock and other collaterals aforesaid and not credited upon said note, and for all proper relief.
"Defendants further say that, while plaintiff held the Oregon County Bank stock as aforesaid as collateral security for the payment of said note, they had several offers to sell said stock at par value of $5,100, and thereupon requested said plaintiff to sell said stock or permit defendants to sell said stock and apply the proceeds of the sale thereof toward the payment of said note, which plaintiff refused to do; that said stock has now become worthless, and by reason of plaintiff's refusal to sell or permit the same to be sold these defendants have been damaged in the sum of $5,100, for which they ask judgment against plaintiff, with costs of this suit. Defendants further state that in the year 1898 the said Oregon County Bank passed into the hands of a receiver, and that at said time it owed this plaintiff $28,000 and owed depositors and other creditors about $35,000; that said Oregon County Bank was possessed of property and assets amounting to $100,000; that before the appointment of the receiver of the said Oregon County Bank as aforesaid said Oregon County Bank had turned over to this plaintiff as collateral security for the payment of its debt to said plaintiff about $50,000 worth of its assets to secure the payment of its said debt, which said assets plaintiff has never accounted for to the stockholders of said Oregon County Bank or the receiver thereof; that after the appointment of the receiver of said Oregon County Bank, as aforesaid, said receiver, by an order of the circuit court of Oregon county, Mo., made therein approving the same, made an agreement with said plaintiff, whereby plaintiff took possession of all the assets of the said Oregon County Bank and was to pay out of the collections of said assets its debt of $28,000, and other debts and liabilities to go to the depositors and other creditors of said Oregon County Bank, amounting to $35,000, making a total liability of said Oregon County Bank which plaintiff was to pay of $63,000, and, after the payment of the said debts aforesaid, plaintiff was to turn over to the stockholders of said Oregon County Bank the balance of said assets, and that said assets of said bank have never been turned over to the stockholders by plaintiff. Defendants further say that said Oregon County Bank was capitalized at $10,000, of which $5,100 was in the names of these defendants, and deposited as collateral security for the payment of the note in suit. And defendants say that they are entitled to a 51/100 part of all sums of money in the hands of plaintiff after the payment of its debt aforesaid and the payment of the depositors and other creditors of said Oregon County Bank, and that the amount to which they are entitled is about $18,000. Wheref...
