Allen v. National Manufacture & Stores Corporation

I agree that Regulation 94, Article 22 is valid when applied to cases coming under its provisions but I do not consider that the case at bar is at all governed by it. I do not entirely agree with the statement of facts in the majority opinion as certain important evidence is not referred to. Therefore, I will restate the facts as I find them.

Plaintiff is engaged in the business of selling merchandise on the installment plan and not in buying and selling stocks. In 1929 plaintiff adopted the policy of buying its stock when offered at less than market value for the purpose of retiring it. From…