Snyder

This is an action based on fraud. The kind of fraud relied upon is that defined in subdivision 4, section 1572, of the Civil Code as “a promise made without any intention of performing it. ’ ’ In his complaint, with other allegations, plaintiff stated in substance that he owned certain shares of the capital stock of the Standard Oil Company of California and of Armour & Company; that defendant, for the purpose of defrauding plaintiff, promised plaintiff that if he would indorse and deliver said stock to defendant, it would pay a certain indebtedness of $2,83-2 for which the stock was held as a pledge; that it would hold possession of the stock and would not sell the same; that it would advance money to plaintiff, holding said stock as collateral security, and with the money advanced buy and sell stocks and bonds, after securing plaintiff’s consent; that it would invest three dollars of its own money, in the buying and selling of stocks for the benefit of plaintiff, to every one dollar so invested by plaintiff; that plaintiff, relying on the promise of defendant, delivered said stock to defendant; that defendant had no intention of fulfilling said promise at the time it was made,…