Reynolds v. Title Guarantee & Trust Co.

Young, J.:

William H. Reynolds, the plaintiff, was the president of a corporation called Dreamland. On the 12th day of March, 1904, Dreamland, through its president, executed a deed of trust to the Title Guarantee and Trust Company, as trustee, to secure a bond issue of $750,000, which bonds were to be fifteen hundred in number and of $500 each and numbered consecutively from 1 to 1,500. Some time in 1915, while Reynolds was president, and after said bonds had been issued, Reynolds desired to buy from one Llewellyn L. Powell six of said bonds, said Powell being at that time the registered…