Rust Engineering Co. v. Randolph Smokeless Coal Co.

Lutz, Judge :

Randolph Smokeless Coal Company (a corporation), owning and operating coal mining property in Randolph county, West Virginia, and W. J. Butler of Youngstown, Ohio, entered into a written contract August 6,-1918, whereby it sold and agreed to deliver to him certain coal, in payment of which he agreed to advance the sum of $25,000.00. W. T. George, a stockholder of the corporation, owning a large amount of mortgage bonds theretofore issued by it, delivered to Butler, at the time of the execution of the contract, and in accordance with the terms thereof, $50,000.00 of these bonds to…