Kortylak v. Johnston City Building & Loan Ass'n

Mr. Presiding Justice Edwards

delivered the opinion of the court.

In 1921, appellee became the owner of 10 shares of the capital stock of appellant, Johnston City Building and Loan Association, each of the par value of $100, and represented by a stock certificate. On May 1,1927, having paid up in full for such shares, he approached the appellant, through its secretary, and asked for the payment of the $1,000 due on the certificate, as a result of which there was indorsed upon the back of the certificate the following: “This is to certify that, this

certificate is fully paid and matured, and will…