Daily capital journal. (Salem, Oregon) 1903-1919, 1911-11-20

by Walter A Trout to S. J. Donald
son"
The plaintiff alleges the subse-
quent assignment to himself Of the
debt and contract Of pledge; that no
part of the debt has been paid by the
defendant Trout, and further; that S.
j. Donaldson, one of the defendants,
claims to own an equity in the GER
tihcate of stock mounting to $3.50
shares. The usual prayer is made
for a decree against the defendant
Trout for the sum of $1,000 and in
terest and that the stock be sold for
the satisfaction of the decree.
In the answer Of the defendant
Trout he admits that on or about
the Sth day of December, 1908, he
borrowed from one Florence Rucker
the sum of $1,000 In this connection
the defendant alleges that he execut-
ed his promissory note therefor, due
June s, 1909, payable to the said
Rueker, and bearing interest at the
rate Of 10 per cent per annum, and
further admits that he delivered to
Rucker at the time of the execution
of the contract a certificate for 90
600 shares of the capital stock of the
Portland Collapsible Box company
for the purposes set forth in said
contract. That said contract was
executed and the said stock certifi-
cate delivered solely as security for
the payment of the promissory note
mentioned in paragraph l. of this an
swer."
Otherwise the defendant Trout de-
nies every allegation of the COM
plant Further in his answer the
defendant Trout alleges that on July
%, 1909, he was ready, willing and
able to pay the full amount due on
the promissory note described, and on
that day he duly rendered to Florence
Rucker also to S. ]. Donaldson, men
toned in the complaint, the full
amount, with all accrued interest
due upon the said promissory note.
and demanded the return to him of
the certificate for the said corporate
stock 1t will be noted in passing
that he does not allege what amount
of money he rendered at the time
mentioned.
He further states that, long
prior to the commencement of this
suit, the owner and holder of the
fOresaid promissory note surrend-
cred, cancelled and delivered up the
said note to the defendant and the
said note was then and there satis-
fed, discharged and cancelled"
He prays that the plaintiff take
nothing by this suit and further
prays an affirmative order of the
court directing and requiring the
plaintiff to dellved up the certificate
for 10000 shares of the capital
stock of the company. The new mat
ter in Trout's answer is traversed
in the reply
The answer of the defendant, S. ]
Donaldson, asserts title in himself tt
$3.50 of the 10000 shares named il
the certificate of stock and alleges
that at the time he transferred the
note and contract of pledge to the
plaintiff he gave the latter notice Of
that claim.
The new matter in the answer Of
the defendant s. j. Donaldson is moi
controverted by anyone, either the
plaintiff or the co-defendant Trout sc
far as we can discover from the
transcript or abstract of record be.
fore us.
After a trial on the issues involved
the circuit court rendered a decree
according to the prayer of the com
plant, directing a sale Of the 19,05(
shares of the stock owned by Trout
to be made first to satisfy the decree
and if that were insufficient that the
$3.50 shares belonging to Donaldson
be next sold The defendant Trout
alone appeals.
Burnett, J. The plea Of tender