Cole, manager of the Mission branch

 of the bank, and who, as seen, carried on, in behalf of the bank, the financial transactions with the company, was made chairman. The company's business was conducted by said committee from the time mentioned until It was sold, which sale occurred some time after the note for $3,900 was given to the bank. When the committee took possession of the company and its business, W. R. Goodbody was superseded as president thereof by his son, William R. Goodbody, and one Winter was made secretary thereof. A man named Pollak was made manager of the company by the committee, and he employed W. R. Goodbody as buyer for the restaurant; the latter during all this time still retaining ownership of 60 per cent, of the stock of the company.The specific claim is, as Is above suggested In a general way, that It is thus made to appear that, if any Cheap Ralph Lauren money was borrowed from the bank to be used in the maintenance or prosecution of the business of the company after the creditors took charge thereof and were conducting It, such loan was made to the Ralph Lauren Outlet creditors themselves, or to the committee representing them, for their own use and benefit, and that such loan cannot therefore be charged against the company so as to bring it within the operation of the lien of the mortgage.In the first place, It cannot be held to be true that the creditors took charge of the company and conducted Its business for their sole benefit. The object of the creditors in taking possession of the corporation and in carrying on its business was to straighten out its affairs and place It, if possible, upon a paying basis. Of course, the creditors had their own interests in view, but at the same time they were necessarily endeavoring to conserve and protect the interests of Goodbody and the other stockholdown interests, the creditors were, of course, only safeguarding the interests of the company and its stockholders, for the extinguishment of the claims of the former, either in whole or in part, from the profits of the business, must of necessity have redounded to their benefit. Moreover, the corporation was the identical entity or, legally speaking, precisely the same Ralph Lauren person that it had been at all times and was at the date of the execution of http://www.ralphlaurensoutlet-online.com the mortgage, and if, as we have held to be true, said mortgage was Intended to cover all future advances made to It by the bank, we cannot see that, merely for the reason that the corporation, still owned by the same parties, had been placed under the management of parties other than Its owners who managed It at the time the mortgage was given, could have the effect of destroying the liability of the mortgagors as sureties for the repayment of such advances.7 However, assuming that there is upon its face some force in the point that loans made to the company after the latter went into the possession and control of the creditors are to be treated as loans made to the creditors and not to the corporation itself, or tnat In any event the mortgage cannot justly or legally be held to cover advances made to the corporation after It had gone out of the Cheap Ralph Lauren Polo management, temporarily, of the owners of its stock, a conclusive reply to the contention under consideration is to be found in the testimony of W. K. Cole and the findings of the court largely founded thereon.Cole testified that all the financial transactions which were had between the bank and the company occurred between the 28th day of January, 1908, and April 21, 1909, and they were as follows, all taking place In the year 1908: Debits: January 28th, existing indebtedness, $5,000; March 5th, $1,500; March 12th, $2,500; April 4th, $o,000; December 24th, $3,900. Credits: February 14th, $2,600; April 6th, $1,000; May 4th, $500; May 22d, $1,000; December 9th, $1,992.94; December 24th, $1,907.06.In the foregoing statement of the financial transactions of the parties, two important and significant facts will be noted: 1 That, except as to the sum of $3,900 evidenced by the note of December