95 N.Y.S. 1040 | N.Y. App. Div. | 1905
The defendants were stockbrokers and members of the Consolidated Stock and Petroleum Exchange of New York. The plaintiff was one of their customers. On the 26th day of September and 5th day of November, 1902, and 3d day of March, 1903, respectively, the plaintiff directed the defendants to purchase certain stocks for him on margins. On each occasion they promptly reported to him that they had purchased the stock. and rendered an account charging him with the purchase price and commissions. They subsequently rendered statements showing that they had credited him with a dividend received on part of the stock and had charged him with interest on the balance of the account. On the 25th day of May, 1903, the plaintiff telephoned the manager of the .defendants’ Brooklyn office, through whom he had dealt with them, that he was ready to take up the stock and pay the balance owing to them .on account of the transactions, and was informed that it would take a few days to get the stock. The plaintiff was about to leave the city and urged prompt action on the part of the defendants in delivering the stock, and on the twenty-eighth of May they delivered to the _Borough Bank of Brooklyn, pursuant to the plaintiff’s direction, stock of the description and amount which he had authorized them to purchase for him together with a statement of the account which, as to the purchase price, agreed with the accounts originally ren
It follows, therefore, that the judgment and order should be reversed and a new trial granted, with costs* to appellant to abide the event.
O’Brien, P. J., Patterson, Ingraham and McLaughlin, JJ., concurred.
Judgment and order reversed, new trial ordered, costs to appellant to abide event.