Wing v. Sedgwick

BINGHAM, Circuit Judge.

This is the same case that was previously before this court (254 P. 5, 165 C. C. A. 415) on a writ of error from a judgment in favor of the defendant sustaining a demurrer to the plaintiff’s declaration.

"We then held that the arrangement under which the $800,000 note was deposited by the managers through the Refugio Syndicate with tho Guardian Trust Company for the issuance of participation certificates therein was an authorized method of borrowing within tho powers conferred upon the managers by the underwriting agreement (Old Record, Schedule A; Present Record,…