The treasurer of a charitable corporation, without authority, took railroad bonds registered in the name of the corporation, to a broker for sale; the broker refused to handle the bonds unless they were made transferable to bearer by the legal transfer agent of the railroad; the transfer agent required from the corporation a copy of a resolution of its directors authorizing the transfer and a power of attorney to make it; the treasurer drew up a resolution of authority and forged thereto the signatures of the officers and the seal of the corporation, and also forged a power of attorney; the transfer agent thereupon, in good faith, made the transfer, and the broker sold the bonds. Held, that the broker and the railroad company were liable to the corporation for the value of the bonds, though both acted in good faith, and the corporation may recover from either. Jennie Clarkson Home for Children v. B. B. Co., 87 N. Y. S. 348, 1137, 1138, 92 A. D. 491, 618, 617, 182 N. Y. 47, 507, 74 N. E. 571, 1118, 70 L. E. A. 787. Compare Secs. 351, 280.

Ordinarily, however, brokers are not personally liable for loss on a forged note sold by them, where they advised the vendee at the sale that they were acting as agents and disclosed their principal. Bailey v. Galbreath, 100 Tenn. 599, 47 S. W. 84?

A real estate agent enlisting a large tract of land for an owner to be sold in subdivisions, who told a purchaser, with knowledge of the agency, but not that prices had been fixed, that the price of the particular tract was $500, $250 down and $250 in six months, was acting within the scope of his apparent authority when he delivered a forged contract for deed, and a forged deed, when the purchaser made the two payments, though the agent was not authorized to sell the particular tract for less than $600. Bagley v. Paris, 179 P. 795, - Wash. Sup. - .