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CLAYTON BROKERAGE CO. OF ST. LOUIS, INC. v. MOUER

No. 12198.

520 S.W.2d 802 (1975)

CLAYTON BROKERAGE COMPANY OF ST. LOUIS, INC., Appellant, v. Roy W. MOUER, Securities Commissioner of Texas, Appellee.

Court of Civil Appeals of Texas, Austin.

Rehearing Denied March 19, 1975.

Attorney(s) appearing for the Case

Robert C. Cheek, Tobolowsky, Schlinger & Blalock, Dallas, for appellant.

John L. Hill, Atty. Gen., David W. Pace, Asst. Atty. Gen., Austin, for appellee.

PHILLIPS, Chief Justice.

The basic issue in this case is whether the trial court erred in holding that London options, as brokered by appellant, Clayton Brokerage Company of St. Louis, Inc., are securities. We think not, consequently, we affirm its judgment.

The trial below was to the court sitting without a jury and was an appeal from a ruling of the Securities Commissioner of the State of Texas that a London option...

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