The defendants have appealed from a judgment rendered against them in three suits on promissory notes, ' which were .consolidated for trial in the district court. Judgment was prayed for in one suit and rendered against the following named defendants, in solido: T. C. Davis as principal, and T. C. Wingate, Lee McAlpin, J. L. De Generes, R. L. Franklin, G. M. Taylor, and T. S. Franklin, as indorsers, on a promissory note for $5,000, with interest at 8 per cent, per annum from the 20th of October, 1912, and 10 per cent, attorneys’ fees. In the second suit, judgment was prayed for and rendered against the following named defendants, in solido: T. C. Davis as principal, and T. C. Wingate, J. L. De Generes, R. L. Franklin, G. M. Taylor, and T. S. Franklin, as indorsers, on a promissory note for $3,000, with interest at 8 per cent, per annum from the 2d of February, 1913, and 10 per cent, attorneys’ fees. And, in the third suit, judgment was prayed for and rendered against the following named defendants, in solido: J. H. Word, as principal, and G. M. Taylor, J. L. De Generes, R. L. Franklin, T. C. Wingate, T. J. Davis, and T. S. Franklin, as indorsers, on a promissory note for $2,-500, with interest at 8 per cent, from the 8th of October, 1912, and 10 per cent, attorneys’ fees.
In their answers to the suits, the defendants alleged that they had not received any consideration for the notes; that they were given merely to accommodate the First National Bank, the business and assets of which were afterwards taken over by the plaintiff bank with full knowledge that the notes were not valid obligations; and that the notes were given to represent a debt of a corporation in Leesville called the Vernon Iron Works, with the understanding and agreement that the bank would take a mortgage from the Vernon Iron Works to secure the debt and that the defendants who made and indorsed the notes would not be calléd upon to pay them.
The Vernon Iron Works, of which T. J.
There is no merit in the defense that the notes sued on were without a consideration or invalid because given as an accommodation to the First National Bank. The accommodation was to the Vernon Iron Works, whose creditors received full consideration from the First National Bank.
Pretermitting the question of authority of the president and cashier of the First National Bank to bind the institution by an agreement with the individuals who made and indorsed the notes that they would not be called upon to pay the obligations to the bank, our conclusion from the evidence is that the assurance of the bank officials was and is to be considered in connection with their agreement to take a second mortgage from the Vernon Iron Works as security for the debt. At that time, the value of the property
The judgment appealed from is affirmed.