West Texas Utilities Co. v. Ellis

Mr. Judge Hickman

delivered the opinion of the Commission of Appeals, Section A.

In the trial court Ruth M. Ellis, and husband, J. W. Ellis, were plaintiffs, West Texas Utilities Company, Taylor Rowe and N. T. Poindexter were defendants, and Claude A. Heiser, O. N. Floyd and J. L. Lochridge were intervenors. They will carry the same designations here.

In 1930 the plaintiffs purchased from the corporate defendant, through its agent, some shares of its $6.00 cumulative preferred stock, without par or nominal value, paying therefor $96.00 per share. According to the findings of the jury, prior to…