Austin v. Wright

This is. an action to foreclose a pledge of certain common corporate stock. From a decree of foreclosure as prayed for, this appeal is prosecuted. The facts, so far as presented by the record which is before us, are practically undisputed. It appears that in March, 1920, the' defendant O. K. Garage & Repair Shop, Inc., purchased' from John E. Austin and Rachel Austin, his wife,' certain real estate at the agreed price of $9,400, the purchase price to be paid by the issuance to the Austins of 940 shares of its preferred stock, which, as appears from the certificate in evidence, was dated March…