Payment of defendant's money into court if garnishee admits possession thereof.

If the garnishee admits the possession of money belonging to the defendant, he must pay the same or so much thereof as may be necessary to satisfy the plaintiff's demand and costs into court to await the order of the court; and, if he fails to make such payment, he is liable as if he had admitted an indebtedness for the amount of such money.

(Code 1886, §2979; Code 1896, §2194; Code 1907, §4323; Code 1923, §8074; Code 1940, T. 7, §1018.)