Gift

Defendants Albert L. Hammill and Hans P. Ahrnke were partners engaged in the general security brokerage business under the name of Hammill and Company. Defendant American Bonding Company of Baltimore, a corporation, was surety on the bond of Hammill and Company as a broker licensed under the provisions of the Corporate Securities Act. Plaintiff May W. Gift was a customer of and maintained a securities account with Ham-mill and Company.

Judgment was rendered for plaintiff for $4,000 against Ahrnke, Hammill and the American Bonding Company, and for $13,547.66 against Ahrnke and Hammill. Ahrnke and the bonding company have appealed. Hammill has not.

The Four Thousand Dollar Award

April 11, 1947, Hammill and Company sold for respondent certain of her shares of stock and credited the net proceeds of the sale, $4,534.69, to her securities account as a free credit balance. About May 15, 1947, she was paid $400 of this sum and $4,000 was transferred from her account to Hammill ?s personal account with Hammill and Company. About July 16,1947, she received a promissory note in the principal sum of $4,000, bearing interest at 5 per cent, payable to her, signed by Hammill, as maker, in his…