Prairie Life Insurance v. Heptonstall

Rose, J..This is an action to recover damages in the sum of $8,985.22 for alleged fraud perpetrated by defendants in the sale of 500 shares of plaintiff’s corporate stock at $20 a share, or for $10,000. The purchasers of the stock were E. AY. Burch and J. A. Steinberger. They paid $300 *830in cash, ánd contend that the sum of $2,500 was not payable to plaintiff but to promoters for making the sale. Part of the consideration for the purchase was the note of the purchasers for $7,200 secured by a mortgage for that sum on 480 acres of land in Canada. Upon the organization of plaintiff as a…