133 Iowa 285 | Iowa | 1907
The plaintiff is a copartnership composed of four persons who are members of the Board of Trade in Chicago, with its main office in that city and a branch office at Perry. Through the latter the defendant indulged a propensity to speculate, with incidental dreams of wealth at others’ 'loss, from August 10 to September 12, 1901, during which time he handled in imagination at least 120,000 bushels of wheat at a loss of only $175 actually advanced and $1,050 which, less $162.50 charged as commissions, the plaintiff claims to have paid out in addition to the money advanced in closing out his deals. The object of this suit is to recover the shortage alleged. The evidence tended to show that plaintiff by the defendant’s direction had contracted for the sale of 25,000 bushels of wheat for December delivery on September 6th, 7th, and 8th at from $1.05% to $1.08% per bushel, and on September 12th 10,000 bushels for May delivery at $1.12. On September 9th they, had contracted for defendant to buy 5,000 bushels for December delivery at $1.01%. The price of wheat advanced on Sep
The tenth instruction did not go far enough, as it merely advised that the conversations and dealings between the agent and principal should be taken into consideration.
Owing to' the errors pointed out, the judgment is reversed.