Gleason

The plaintiffs appeal from a judgment in favor of the defendants rendered upon the granting of the defendants’ motion for nonsuit.

The action was to recover damages alleged to have been caused by false representations made by the defendants to the plaintiffs.

The complaint alleges, in substance, that the plaintiffs bought of one C. J. Proud and the defendant, H. A. Land wehr, certain bonds of the Bisbee Light & Power Company, of the par value of thirty thousand dollars, and paid for the same by conveying to said Proud a certain lot in Los Angeles and to Landwehr certain other property, all of the value of twenty-five thousand dollars; that to induce plaintiffs to make said exchange the defendants represented to plaintiffs that the bonds were ‘ * gilt-edge securities, ’ ’ that the net income of the Power Company was more than double the amount of the bond interest, that the bonds were guaranteed by Deane & Company, of Grand Rapids, Michigan, that said guarantors were a large concern owning and operating plants all over the country, and their securities “gilt edge,” that there were only two hundred and ten thousand dollars of the bonds outstanding, and that the bonds were secured…