Speakman v. Bernstein

SIBLEY, Circuit Judge.

Speakman, as trustee in bankruptcy of Tex-la-homa Oil Corporation, was denied a recovery at law by the judge sitting without a jury, for $380,000, claimed against Bernstein as due on shares of preferred stock originally issued to him jointly with one Brown; and the trustee appealed. Bernstein died pending the appeal,- and his executors have been made parties.

Tbe Tex-la-homa Oil Corporation was organized under the laws of Delaware, and those laws primarily control the liability of subscribers to its stock. Harrigan v. Bergdoll, 270 U. S. 560, 46 S. Ct. 413, 70 L. Ed. 733.…