Kellch v. Westland Minerals Corp.

TUCKETT, Justice:

The plaintiffs were the owners of certain shares of stock of Westland Minerals Corp. Murray First Thrift is the authorized transfer agent of the defendant West-land Minerals Corp. The stock certificates owned by the plaintiffs were investment shares and had not been registered for sale under the provisions of the Security Act of 1933. The plaintiffs filed their petition in the court below for a writ of mandamus requiring the defendant Westland Minerals Corp. to issue to them free trading stock rather than investment stock.

Defendants failed to answer the petition of the…