Stakes v. Reese

Ritz, Judge:

This suit was instituted for the purpose of recovering damages for the alleged fraud and deceit of the defendant in the purchase from the plaintiff of certain shares of stock of the New Rex Coal & Coke Company. Both of these parties were stockholders and directors of that company. The defendant was also the president thereof, and as such president he was the managing officer of the company, controlled its destinies, and was in full charge of its fiscal affairs. The plaintiff owned forty-nine shares of stock, together with certain shares of stock in another coal company, which, on…