Hofstetter v. Sound Trustee Co.
Washington Supreme Court
Appeal from a judgment of the superior court for King county, Sheeks, J., entered January 27, 1911, upon findings in favor of the defendants, in an action for a receiver of a corporation.
1Opinion of the CourtChadwick, J.
Appellant and respondents William H. Angel, Daniel Hickey, and many others, were subscribers to a concern called the Income Guaranty Company. The promise of quick riches was the lure that held this concern together. Those who subscribed to it were to be paid in the order of their subscriptions two dollars for every dollar invested. The concern had no capital and no property. The money was paid out of the sums received from new subscribers and from lapses. In January, 1906, it became apparent to some of those who were subscribing to the scheme that its end was approaching.. Two circumstances…
2Cases cited1 opinion
- Dolan v. CainWashington Supreme Court · 1910
3Cited by3 opinions
- Gildesgard v. Pacific Warehouse Co.Washington Supreme Court · 1960
- Henry v. Chicago, Milwaukee & Puget Sound Railway Co.Washington Supreme Court · 1915
- Low v. McDonaldWashington Supreme Court · 1916