Kress

This appeal is from a judgment decreeing the plaintiff to be the owner of 300 shares of the capital stock of the appellant corporation and ordering the latter to issue the same to him free of all claims of the corporation or any other person.

The facts as found by the court may be thus summarized: Prior to August 2, 1922, one Boadway, “who was then an officer and actively in charge of the management of defendant corporation” (then known as “Boadway Bros.”), solicited a loan for and on behalf of the corporation from the Central Commercial Savings Bank (hereinafter referred to as “the bank”) and was informed by the officers thereof that the bank was unable to make a single loan of the size required. It was thereupon arranged between Boadway, acting for the corporation, and the bank, that a loan of $8,500 would be made to each of three of the employees of the corporation, namely, Feeny, Ormsbv and Smith, conditioned on each of them executing his note for $8,500 to be secured by a collateral deposit with the bank of 100 shares of the common stock of the corporation, and that as additional security Boadway was to indorse each of the three notes. August 2, 1922, the corporation issued…