Welch

jn an ac^-jon brought by appellant to recover $5,700 for documentary stamp tax paid under protest, judgment was rendered in favor of appellee, from which judgment plaintiff below appealed.

The findings set forth that between November 1, 1926, and January 1, 1930, plaintiff issued a large number of instruments designated “Purchase Agreements” to investors. A form of this agreement was set forth in the findings, from which appeared, among other things, that the agreement, when executed, acknowledged receipt of a payment, and constituted a contract, on behalf of the investor to buy, and on behalf of the appellant to sell, certain securities therein enumerated. There were other provisions in this agreement, from which it is seen that the transaction was comparable to the purchase Gf securities on margin. Although it does not appear from the record that this agreement was taxed, it was conceded by both parties at the argument that the necessary documentary stamps were affixed.

... , . , . After this agreement was entered m- . . ,.a ,, . , , . , to> Pla,mtlff tIlen ued a document designated as a certificate as follows:

“No. 10758.

“City Bond & Finance Company

«1121 Bank of America…