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UNITED STATES v. DAVIS

No. 32220.

40 F.Supp. 246 (1941)

UNITED STATES v. DAVIS et al.

District Court, N. D. Illinois, E. D.

June 18, 1941.

Attorney(s) appearing for the Case

J. Albert Woll, Dist. Atty., of Chicago, Ill., for government.

Edward J. Hess, of Chicago, Ill., for defendant C. Franklin Davis.

Justus Chancellor, Jr., of Chicago, Ill., for defendant Justus Chancellor, Sr.

E. W. Van Dyke, of Milwaukee, Wis., for defendant Charles E. Oldenberg.

HOLLY, District Judge.

I am of the opinion that the certificate which the defendants are charged in counts 19 to 24 with sending through the mails without having a registered statement in effect with the Securities and Exchange Commission is a security. The documents recite in substance that the named person has become a member of a cooperative association and entitled to participate in the distribution of certain profits. The certificate is curiously worded but that...

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