MacDiarmid

This is an action brought by plaintiff and appellant, as sole surviving trustee of the bankrupt copartnership of Shepard & Gluck, against the defendants, upon their liability as stockholders of the now defunct California Cotton & Factorage Company, a corporation.

This cause was, for the purposes of trial, consolidated and tried with an action originally brought by Shepard & Gluck themselves directly against said corporation. Thereafter, the three trustees in bankruptcy were substituted as parties plaintiff, and still later, George A. MacDiarmid, appellant here, was substituted as sole plaintiff, as in the instant case.

The amended complaint alleges that in the year 1919 the firm of Shepard & Gluck entered into an arrangement with the California Company, whereby the California Company might from time to time ship its cotton to the city of New Orleans to be there handled by Shepard & Gluck as brokers, upon certain terms then agreed upon; that from the month of November, 1919, to the month of June, 1921, the California Company did ship cotton, which was handled by the said Shepard & Gluck, as brokers; that by reason of the said transaction, the California Company became indebted to…