ARK.] .CASE V. TAYLOR. 185 CASE V. TAYLOR. Opinion delivered November 20, 1933. 1. BANKS AND BANKING — LIQUIDATION SALE.—Sale of corporate stock held in pledge by an insolvent bank by a deputy commissioner, instead of by the circuit clerk, held valid. . 2. APPEAL AND ARBOR—PRESUMPTION OF REGULARITY.—It will be presumed on appeal that the trial court's finding that a sale of . stoek held in pledge by an insolvent bank was regular and in conformity with the decree was supported by the facts. 3. BANKS' AND BANKING—LIQUIDATION SALE.—That only one proof of publication of the notice of sale of pledged stock under decree directing advertisement thereof in two counties appeared in the record, did not establish the alleged fact that such notice was the only one published. 4. BANKS AND BA NKING—LIQUIDATION SALE. — A special deputy bank commissioner, liquidating agent of an insolvent bank, held not an inierested party, nor ineligible for appointment as special commissioner to sell stock pledged as security for indebtedness to thc bank. 5. BANKS AND BANKING—SALE OF INSOLVENT BANK'S PROPERTY.—The State Bank Commissioner and his agents hold pioperty of an insolvent bank as trustees, not Owners, and may conduct sales thereof. Appeal from Stone . ' Chancery Com4; A. S. Irlyy, Chancellor ;' affirnied: Williamson(6 Williamson, fdr appellant. J: Paul Ward, for *appellee': ' ....J01iNSON, C. J: Appellee; .Wa1trE. Taylor,' State Bank Commissioner, recovered a default' judgment againSt appellant, H. R. Case, in the Stone County Chancery Court in a -sUrn iri . excess of• $8,000. -The indebtedness was secured by 'a pledge of $10,000 in common and• $5,000 in preferred stocks , of the Batesville White Lime Compny. This Stock was directed to •be sold by John F. Grammer, Special Deputy Bank •Commissioner
186 _CASE:V. TAYLOR. [188 charge of the North- Arkansas Bank; insolvent; at public sale in Batesville, Arkansas, after having advertised said sale for ten days by at least one insertion in a weekly paper in Stone County and in Independence County, and by giving the defendant written notice 'of 'said sale, etc. The sale was effected, and a report thereof made by the Special Commissioner, whereupon appellant interposed the following exceptions thereto : "First, that the sale can only be made by the circuit clerk, as ex-officio commissioner. "Second, that no notice of sale , was published in Independence County pursuant to the decree. "Third, that John F. Grammer was an interested party in the proceedings, therefore could not be legally appointed special commissioner." Section 2196 of Crawford & Moses' Digest provides : "That the clerks of the circuit courts in the several 6oun1 ties shall be clerks of the chancery courts and ex-officio masters and commissioners thereof in each of said counties," etc. Section 1365 ProVides': " The judge may appoint any other person master or commissioner in special causes in said court." It will be seen that § 1365 of Crawford & Moses' Digest, cited supra, gives to chancery courts full power and authority to designate and appoint any qUalifiecl person in special causes as commissioner. Appellant's second exception to the . report of sale is likewise without merit. The chancery court's order confirming the sale .finds : " That said sale was in all respects regular, and in conformity to law and the decree in said case, and same is . hereby, in all things, approved and confirmed." .Since the trial court found that the sale was in all respects reg -ular and in conformitY with the decree in said cause, we must presume that his findings were supported bY the facts. The mere fact that only one proof in publiCation appears in this record does no,t esfablish the alleged "fact that it was the only one published. Fid-
d'gment v. Butondn, 97 Ark. 76 . , 133 S. W. 192. Price v. Gunn, 114 Ark:551, 170 . S. W. 247,' L. R. -A-, 1915C, 158. - The : contention that JOhn F. Grammer; liquidating agent of the North-, Arkansas Bank,••-was : 'an interested party is likewise without . rherit. • - '••; The Bank•CornmisSioner and his' . agents hold prop-erty- as:trustees and not as owners. -The : possCssion thus . acqUired•is - analogous to `t11. ,t of a 'receiver; . and it is cOm-Mom practice foreceivers •to 'Conduct sales . of property held by them, as such. : .• ••• The judginent is affirmed: ,• ; .,..• t•:
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.