Henning

It is alleged in the complaint in this action that on or about the twenty-fifth day of June, 1923, plaintiff borrowed from the defendants the sum of $4,000, evidencing this loan with his promissory note for said sum, payable in 30 days, with interest at the rate of one per cent per month; that as security for the payment of said sum plaintiff indorsed and delivered to the defendants a certifi cate for 78.6 units of the White Star Oil Syndicate, the reasonable market value of which at that time was about $15,000. It is further alleged that on or about the twenty-seventh day of July, 1923, plaintiff arranged with defendants for a renewal of said loan for a period of 90 days, and executed a new note for the principal sum of $4,000, wherein interest was made payable at the rate of one per cent per month; that as security for said new note the defendants retained the hereinabove referred to certificate for 78.6 units of the White Star Oil Syndicate.

The complaint then alleges, upon information and belief, that prior to the maturity of the said renewal note, the defendants sold the said White Star Oil Syndicate units for a sum considerably in excess of $4,000, the exact amount unknown…