State v. Lund

18 P.2d 603, 93 Mont. 169, 1932 Mont. LEXIS 14
CourtMontana Supreme Court
DecidedDecember 23, 1932
DocketNo. 7,004.
StatusPublished
Cited by13 cases

This text of 18 P.2d 603 (State v. Lund) is published on Counsel Stack Legal Research, covering Montana Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. Lund, 18 P.2d 603, 93 Mont. 169, 1932 Mont. LEXIS 14 (Mo. 1932).

Opinion

, HONORABLE JOHN HURLT, District Judge,

sitting in place of MR. JUSTICE FORD, disqualified, delivered the opinion of the court.

- The defendant was brought to trial and found guilty upon an information charging him with grand larceny, in that he wilfully, unlawfully and feloniously appropriated to his own *171 use a certificate of stock in the Western Loan & Building Company (hereafter referred to as the Western Loan), of Salt Lake City, Utah, of the value of $2,262.06, the personal property of Hilma A. Gardner, etc.

. When the case was called for trial, the state asked leave to .amend the information by adding the words, “as a bailee, agent, trustee, and as an officer of a corporation, and as a person authorized by agreement or by competent authority to hold, or take possession, custody, or control.” Upon objection the motion was denied.

Prior to the trial upon the merits, the defendant moved for a change of place of trial, which motion was denied.

Hilma Gardner, the owner of the certificate, the larceny of which is the basis of the charge, was then sworn and testified that she is a resident of Helena; that she was and had been for several years the owner of a stock certificate in the Western Loan, which certificate was dated the eleventh day of September, 1920, and contained stipulations to the effect that, if Hilma Gardner should make certain monthly payments, upon its maturity the corporation would pay to her the sum of $3,000. She testified that she had made the payments thereon for several years to a Mr. Riedman as agent for the Western Loan, whom she had known for over thirteen years, and that she had bought the certificate through him; that in the month of May, 1929, the defendant Earl Lund, Erwin Lund and Mr. Riedman came to the home of the witness and her husband, and that Earl Lund asked if he could “have and borrow the certificate for his business”; that defendant said she could have the certificate at any time she wanted, and that she thought “it was the same as his father down in Salt Lake. * * * I asked him if I could get it back any time I wanted to, and he said I could have it any time I wanted it”; that he was to give her interest on the money if she let him have the certificate; and that upon the next day Mr. Riedman and defendant brought her the certificate. Her husband was also present. Thereupon Mr. Riedman handed her the certificate for indorsement, and she indorsed it without looking at it. *172 After doing so, she gave it to the defendant, saying: “I don’t need my money for one year or two, but I will want my certificate when it is due, and he said I could have it any time I called for it. * * * You asked me to state who was authorized, if anybody was authorized, to take that certificate and get the money from the Western Loan — Mr. Lund was the only one. I did not expect him to cash in the certificate and I did not authorize him to cash it in, not until about a year after when I found the certificate had been cashed.” She understood he was organizing a new company at this time, and that his father, assistant secretary of the Western Loan, was behind it. “They described this new company to make it appear to me that it was the same thing as the old company; as going into another branch of the Western Loan.”

The assignment of the certificate indicates that it was made in blank, and that afterward the names of Crowley & Thomas of Salt Lake City were written in as indorsees, and that they cashed the same and delivered the proceeds, amounting to $2,262.06, to the Great Western Bond & Mortgage Company (hereafter referred to as the Great Western).

Mrs. Gardner further testified that Mr. Lund was to pay her interest, “as to what interest he would pay, between seven —I know it was seven per cent., but I am not sure how much more.”

Upon cross-examination she stated that she did not have the certificate at home at the time the three parties called upon her, but that her husband got it from the bank, and she was positive that she gave it to the defendant on the twenty-ninth day of May; that she signed the indorsement in her home on that day in the presence of Riedman and defendant, without reading it, though she had opportunity to do so, and that she signed no other papers at the time; that Mr. Riedman asked her to “please sign the certificate”; that she did not ask him any questions; and that he made no further statements. Later on she testified that this and other certificates, likewise assigned, were to be used for the purpose “of releasing other capital or money; they said that to me too. *173 In other words they would take this certificate and use it in such a way as to release other assets that would earn money so that I could be paid some interest.” She further testified that she did not know that she had purchased stock from Mr. Lund in the Great Western; that she did not have any certificate issued by that company in her possession, though she later testified that she did have in her possession such certificates of stock, which stock is referred to in the testimony as “interim” certificates in the Great Western. The witness then identified a certificate dated May 29, 1929, issued to her by the Great Western, reciting that the witness is a subscriber for certain shares of the capital stock of the Great Western; and that upon payment of the subscription price in full as specified in the application “hereby referred to and made a part hereof, proper certificates will be issued and furnished the subscriber.” She stated she did not recall the date she got the certificate and was not in Helena when it was received. “That was not the same transaction of May 29th when I purchased stock of the Great Western. * * * I didn't get that that same day. My husband took care of that and put it in a safety box because I was not here”; that the first time she saw Mr. Lund was when he and his brother and Mr. Eiedman came to her home. “They were together, not the 29th but the 28th.”

She stated that she did not recall receiving any letters from •the Great Western at the time she purchased stock in the company acknowledging receipt of her subscription; that she thought Mr. Lund was borrowing the certificate, and did not understand she would receive a dividend upon stock purchased in that company, and that what she thought she was doing was lending this certificate, an,d that Mr. Lund was to pay her seven per cent, for it, and that she did not read the certificate which came to her from the Great Western; thought it was the same as the one which she had, possibly in the nature of a receipt. She admitted that on November 24, 1929, she had her daughter write to the company under her direction, though she did not actually read the letter, at a time when *174 tbe witness was siek, a letter referring to investment in tbe Great Western.

She received dividends on her Great Western stock from time to time and these dividends came in checks which she cashed after indorsing; her husband likewise received similar checks, but she thought the checks were for the use of her stock in the Western Loan.

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Bluebook (online)
18 P.2d 603, 93 Mont. 169, 1932 Mont. LEXIS 14, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-lund-mont-1932.