Wisconsin Mutual Plate Glass Insurance v. Guaranteed Bond Co.

The Guaranteed Bond Company is a corporation engaged in business as a securities broker and in 1925 was licensed and authorized by the railroad commission of Wisconsin to act as a broker in Wisconsin under the provisions of secs. 189.01 to 189.31, Stats. 1925. On September 17, 1925, said corporation filed with the railroad commission the statutory bond in the penalty of $20,000 as required under the provisions of sec. 189.08, Stats. 1925, as a condition precedent to a broker selling securities in Wisconsin in advance of their classification as Class A securities. The defendant, Maryland…