ALDRICH, Circuit Judge.
This is an action for fraud, in two counts. Amplifying the pleading somewhat, plaintiff alleged in the first count that in November 1958 defendant agreed to convey to him, for $5,000 which plaintiff paid, one half of defendant's 50% stock interest in a shoelace factory which defendant was establishing in Charlotte Amalie, Virgin Islands, which stock defendant had allegedly acquired by contributing to the company $10,000 in machinery and materials...
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