Evening Bulletin in Honolulu, Hawaii

Appelate Division rules on stock transfer faith and liabilities

The appellate court upholds judgment against a defendant who transferred stock to Van Every without proper book entry. It notes the corporation forged a certificate, canceled it, and issued a new one, then sued Van Every for a call, earning a judgment. The court finds the transfer not in good faith and too late for reversal, sustaining the creditor’s position. The decision affirms against appellant James G. Greene and in favor of Rochester ad Rattle Malls Co.