#### W. P. Welker, appellant, v. W. E. Allison, appellee.

Action to recover the consideration paid for trade acceptances sold without complying with the Securities Act. Judgment for defendant. Appeal from the Circuit Court of Payette county; the Hon. P. R. Dove, Judge, presiding. Heard in this court at the October term, 1922.

Reversed and remanded with directions.

Opinion filed November 16, 1922.

Albert, Webb & Albert, for appellant. Leslie J. Taylor and Arthur Roe, for appellee.

Per Curiam.