Stewart v. Bryant

ANDERSON, J.,

pro

tem.

This is an action begun by the receiver against the defendants for the recovery of money improperly expended by the defendants herein while they were in charge and control of the funds of the United States Thrift Corporation of Delaware, a corporation that had been permitted to transact business within the state of California, but subsequently said corporation, by reason of its failure to pay its corporate dues, forfeited its right to transact business in the state .of Delaware and also in the state of California.

At the time said corporation forfeited its corporate rights and ceased to do business as a going concern it carried on hand in the form of a cash balance on deposit in the National City Bank in Los Angeles the sum of seventeen thousand and some odd dollars, and thereafter, up to and including the eighteenth day of November, 1926, there was added to the account of said corporation in the form of deposits and interest, funds of the said Thrift Corporation in the sum of over $44,000; that the total amount of the funds of the corporation on hand on June 1, 1925, and including subsequent deposits up to November 18, 1926, was $62,451.28. The plaintiffs prayed judgment for this amount, and the court gave judgment for the sum of $42,340 and interest to October 17, 1928, amounting to the sum of $5,655.89 and costs. The court- found that the defendants May S. Bryant, John S. Bryant and W. E. Steinbeck were directors during all the times mentioned in the proceedings,

[692]

and that John S. Bryant was acting president and May S. Bryant secretary of said Thrift Corporation.

There is some contention that the appellants have not furnished a complete record on appeal and the certificates of the court reporter are presented, which seem to support this contention; the judge’s certificate also gives this contention some support:

“State of California,

County of Tuba—ss.

“I, Eugene P. McDaniel, judge of the superior court of the state of California, presiding in department 4 of the superior court in and for Los Angeles county, do certify as follows, to-wit: