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POSITYPE CORPORATION v. MAHIN

No. 199.

32 F.2d 202 (1929)

POSITYPE CORPORATION OF AMERICA v. MAHIN.

Circuit Court of Appeals, Second Circuit.

April 8, 1929.

Attorney(s) appearing for the Case

Caruthers Ewing, of New York City (Cravath, De Gersdorff, Swaine & Wood, of New York City, of counsel), for appellant.

Satterlee & Canfield, of New York City (R. Randolph Hicks, Lloyd F. Thanhouser, and Barent Ten Eyck, all of New York City, of counsel), for respondent.

Before MANTON, L. HAND, and AUGUSTUS N. HAND, Circuit Judges.

MANTON, Circuit Judge.

This action is for the breach of a contract to subscribe for 500 shares of the first preferred stock of the appellee corporation. Appellant agreed to pay $50,000 for this stock, which carried with it a bonus of 1,000 shares of common stock. There were 19 signers to the subscription contract, who were to receive two shares of common for one share of preferred stock, and the plan was to sell to the public one share of preferred and with it a bonus...

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