People v. Coyle

STEPHENS, J.

The defendant below, appellant here, was charged in counts I, II and III of the information with

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1hc crime of violation of the Corporate Securities Act, and in count IY with grand theft. He was tried by the court-wit bout a jury and was convicted and sentenced on each count. A motion for new trial was denied and he appeals from all four judgments of conviction and the order denying a new trial.

The facts necessary to an understanding of count I are as follows: Appellant was working as a salesman of mining stock that was being advertised by radio. Through an answer of Mrs. Elsie E. Dusbabek, the complaining witness, appellant secured her name and called upon her. After several calls Mrs. Dusbabek, transferred and delivered to appellant twenty shares of “City Service” stock, appellant agreeing to convert the stock and invest and reinvest the money received for her. In connection therewith the following documents were executed in duplicate, each keeping one:

“Los Angeles, Calif.

“Oct. 22, 1931.

“I Elsie E. Dusbabek hereby appoint B. Coyle my lawful attorney with full power to buy, and to sell securities, and to collect such dividends that hereafter become due. This indenture shall be in effect for a period of one year from above date.

“Elsie E. Dusbabek.

“I, B. Coyle, acknowledge the receipt of $140.00 from Elsie E. Dusbabek which I agree to invest in such manner as I consider to the best interests of Elsie E. Dusbabek for a period of one year from this 22 day of Oct., 1931. I further agree that one year from this 22 day of Oct., 1931, I shall pay to Elsie E. Dusbabek the sum of $140.00 together with such accumulations that accrue during the existence of this agreement., with interest at the rate of $4.00 monthly payable monthly.

“B. Coyle.

“Accepted: Elsie E. Dusbabek.”

There were five of the $4 monthly payments made. Nothing further has ever been paid, notwithstanding demand has been made therefor.