Conrad v. La Rue

Trover for the conversion by defendant of two hundred shares in the Conrad Non Mining Company. Defendant was secretary and treasurer of the company, and it is not disputed that he had the shares and disposed of them-. The question is whether he was warranted in what he did.

The evidence for the defense tended to show the following state of facts: The Conrad Iron Mining Company is a corporation, and in October, 1880, it had ten stockholders, each of whom owned two thousand shares. The company was in need of money, and an informal meeting of the stockholders was held at which it was agreed that…