Brocalsa Chemical Co. v. Langsenkamp

(after stating the facts as above). The subject of fraudulent misleading may be summarily disposed of. There is no allegation of any misstatement as to the value of the bonds, or, indeed, any pleading claim that they were not worth the price paid. There is no substan tial proof of any plan or representation that the proceeds of the bonds were not to be used for all ordinary corporate purposes, naturally including the refunding in a longtime form of debts whieh were due or currently to become due — indeed, on their face the bonds were refunding bonds. It would not normally be very important to…