Anthony

This appeal is from a judgment entered upon the sustaining of the demurrer of the respondent Indemnity Company to the complaint, without leave to amend, in an action upon a bond for $5,000 executed on January 1, 1925, by the defendants Jac. F. Van and others as principals and the respondent as surety.

The bond was given pursuant to paragraph 3 of section 5 of the Corporate Securities Act (Stats. 1917, p. 677), as amended in 1923 (Stats. 1923, p. 90), which, as a prerequisite to the issuance of a broker’s certificate by the commissioner, called for the filing of a bond for $5,000 payable to the state of California “conditioned upon the faithful compliance with the provisions of law” by the applicant and containing the further provision “that upon failure to so comply the applicant shall be liable to pay any and all persons who may suffer loss by reason thereof. ’ ’

The complaint alleges the filing of the bond, the issuance of the certificate, and a breach of the condition of the bond, in that the defendants, while acting as appellant’s brokers, converted securities entrusted to them for sale, resulting in the loss to appellant of unwards of $5,000. But there is no allegation to…