97 Iowa 668 | Iowa | 1896
*671 “I think I disclosed the fact to both Wishard and Casady that my bank was going to make a loan. * * * I went to those gentlemen for the distinct purpose of inquiring the value of the stock, and not to ask their advice as to whether to make the loan or not. I did not, in fact, stop my inquiries when I got their statement as to the value. I wanted them to know for what purpose I was making the inquiry.” He further stated: “Before making the loan to Goode, I called on Simon Casady, treasurer of the plaintiff company, and disclosed to him that the bank was negotiating a loan to Goode, and taking stock as collateral. Casady made no claim of lien upon the stock in favor of the company.”
It is clear that Mr. Wellslager intended to be understood as testifying positively that he disclosed to both Wishard and Casady that the purpose of his inquiry was to determine whether to accept the stock from Goode as security for the loan. Mr. Wishard was examined on behalf of the plaintiff, prior to the examination of Mr. Wellslager. On cross-examination, Mr. Wishard testified in relation to the interview with Mr. Wellslager as to the value of the stock of the plaintiff company. An examination of his evidence, shows quite satisfactorily that it was the first interview that Mr. Wishard had in mind. He states that Mr. Wellslager said, “he was thinking of exchanging some real estate or property which they had.” He says: “I don’t recollect the conversation, so as to say whether Mr. Wellslager made specific inquiry as to the value of preferred stock and of common stock.” He further states: “I never had any conversation with him about Goode’s stock, to the best of my recollection. He did not say to me, in that conversation, that Goode had applied to the bank for a loan, and had tendered this stock, or was about to tender this stock, as security. My recollection is
After Mr. Wellslager’s examination, Mr. Wishard was recalled, and testified that Mr. Wellslager did not inform him that he was making inquiries with a view to making a loan to Goode on his preferred stock. He says: “He had one or two interviews with me relative to the value of the stock of the plaintiff company, and in one of the interviews he said he had been offered some stock for some real estate. To the best of my recollection, he never informed me that he was thinking of loaning money to Goode for any stock, either preferred or otherwise.” Mr. Casady testifies that Mr. Wellslager inquired of him as to the value of the stock, and says: “So far as I recollect, the extent of his inquiries was as to the value of the stock. I