Sarbach v. Kansas Fiscal Agency Co.

The opinion of the court was delivered by

West, J.:

The Interstate Fiscal Agency Company was organized to sell insurance and proceeded to sell stock in its own company. In March, 1907, a dividend of 18 per cent was paid and in September following a dividend of 22 per cent. On the 5th of April the in-tervenor subscribed for one hundred shares, signingthe following receipt, April 9:

“I hereby acknowledge receipt of Certificate No. 330 for 100 shares of the capital stock of the Interstate Fiscal Agency Company purchased by me on the 5th day of April, 1907, and herewith authorize the Secretary or…