Lathrop

Action for damages on account of fraud and deceit alleged to have been practiced by appellants upon plaintiff in the sale to him of certain shares of corporate stock of the National Sugar Company. Prom the judgment entered in favor of plaintiff, and an order denying their motion for a new trial, defendants appeal.

The action as originally brought included among the defendants the National Sugar Company, as to which, however, and other defendants not appealing, the same was dismissed at the time of the trial. Defendant Stewart was the president of the corporation and a stockholder therein. Defendants Wayne and McGraw were copartners doing business as stock brokers in Los Angeles under the firm name of Wayne & McGraw. In July, 1907, plaintiff purchased from Wayne & McGraw certain shares of the capital stock of said corporation, for which he paid the sum of $740, and received a certificate therefor. The complaint alleges that in order to persuade and induce plaintiff to purchase the stock the defendants Stewart, Wayne and McGraw made certain representations to plaintiff upon which he relied and was thereby induced to make the purchase, and that said representations were false and…