Halpern v. Grabosky

Opinion by

Mr. Justice Kephart,

Plaintiff’s bill was to compel defendant to return stock held as collateral security, to restrain its assignment, and account for all money, securities or other property received by him. The court below found plaintiff and defendant agreed to form a corporation, the 6. H. P. Cigar Co., with capital of $15,000, divided into-300 shares. Plaintiff was to subscribe for 90 shares, defendant 172% shares, and Polleck, the third member, 37% shares. Defendant was to advance the money plaintiff was to pay, and take his stock as collateral. All dividends were to be paid…