Spence & Green Chemical Co. v. Mouer

STEPHENSON, Justice.

This is an appeal from a judgment of the trial court upholding the order of the Securities Commissioner of the State of Texas, prohibiting the sale of its securities by Spence & Green Chemical Company and extending a prior order which prohibited secondary trading of such securities. The parties will be referred to here as “Spence & Green” and the “Securities Commissioner.”

The parties agreed below and here that this is not a “substantial evidence rule” case and that a trial de novo in the district court was proper. However, Spence & Green has a point of error that it should…