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KELLY v. BASTEDO

No. 5089.

70 Ariz. 371 (1950)

220 P.2d 1069

KELLY, State Treasurer, et al. v. BASTEDO. KELLY, State Treasurer, et al. v. SMADBECK.

Supreme Court of Arizona.

July 15, 1950.

Attorney(s) appearing for the Case

Frank W. Beer and William G. Christy, of Phoenix, for appellants.

Snell, Wilmer, Walsh & Melczer, of Phoenix, for appellees.

DE CONCINI, Justice.

In 1927, August Heckscher became interested in the Westward Ho Hotel in Phoenix, Arizona, by loaning $275,000.00 to one Charles V. Bob. Bob pledged to Heckscher 10,000 shares of stock of the Pacific Hotels Company, an Arizona corporation, whose sole property was the Westward Ho Hotel. In 1940, the name of the Pacific Hotels Company was changed to Westward Ho Hotel Company. Bob disappeared leaving Heckscher to learn that his stock was not an authorized...

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