Bertram v. Exchange Trust Co.

LETTS, District Judge.

This is an action for damages predicated upon the alleged conversion of 20,009 shares of stock in the Victory Gold Mines, Limited, an Ontario corporation. The defendant trust company was the transfer agent of that corporation, a fact of considerable significance in determining the defendant’s duty, and its ability to discharge that duty, under the rather disordered and confused dealings which underlie this action.

Under date of March 30,1928, the defendant entered into an escrow agreement with the Assets & Securities, Limited, of Ontario, Canada. Under this agreement,…