Harris v. Ferguson

This action involves the right of the Receiver of Dallas Mortgage Securities Company to collect the sum of $5,000.00 from H. W. Ferguson, alleged to be due by him on his stock subscription in the insolvent corporation.

The material facts are these: The defendant, H. W. Ferguson, was president of Farmers’ Fund of Texas, a corporation later known as Dallas Mortgage Securities Company. On October 28, 1929, the capital stock of the company, in the amount of 20,000 shares of the par value of $10.00 per share, had all been issued and paid for, except 688 shares previously subscribed for by H. W. .…