The Federal Reporter with Key-Number Annotations, Volume 272: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States and the Court of Appeals in the District of Columbia, June-August, 1921. Page: 212
xx, 1023 p. ; 23 cm.View a full description of this legislative document.
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272 FEDERAL REPORTER
In Error to the District Court of the United States for the Western
District of Oklahoma; John H. Cotteral, Judge.
Action by Silvan Newburger and others, a copartnership doing busi-
ness as Silvan Newburger & Co., against Seth Gettys and another, a
partnership doing business as Gettys & Prescott. Judgment for plainm-
tiffs, and defendants bring error. Affirmed.
H. L. Stuart, of Oklahoma City, Okl. (W. A. Ledbetter, R. R. Bell,
and E P. Ledbetter, all of Oklahoma City, Oki., on the brief), for
plaintiffs in error.
H. G. Snyder and F. B. Owen, both of Oklahoma City, Okl. (Ber-
nard Titche, of New Orleans, La., and Henry E Asp and W. A. Ly-
brand, both of Oklahoma City, Okl., on the brief), for defendants in
error.
Before SANBORN and CARLAND, Circuit Judges, and LEWIS,
District Judge.
SANBORN, Circuit Judge. Silvan Newburger & Co. was a copart-
nership, composed of the plaintiffs below, and Gettys & Prescott was
a copartnership, composed of the defendants below. The plaintiffs
were cotton brokers at New Orleans, and held a seat on the New York
Cotton Exchange. The defendants were engaged in the cotton busl-
ness in the state of Oklahoma. The plaintiffs brought this action to re-
cover a balance of an account between them and the defendants for
moneys expended by the plaintiffs in the execution of telegraphic or-
ders of the defendants to them between October 30 and December 12,
1916, to make contracts for the defendants on the New York Cotton
Exchange in accordance with the provisions of the Cotton Futures Act
of August 11, 1916, and the rules and customs of the exchange for the
purchase and sale of cotton to be delivered in March, 1917. The com-
plaint contained allegations of a cause of action for the recovery of the
alleged balance of such an account amounting to $8,338.78.
The answer of the defendants was: (1) That they never authorized
the plaintiffs to make any of the contracts alleged, except the first one,
which was ordered and made on October 31, 1916, for the purchase of
100 bales of cotton, to be delivered in March, 1917, and that this con-
tract was closed out by means of the sale of a like amount of cotton
on the same day with a profit; and (2) that the contracts and transac-
tions averred in the complaint were wagering contracts and transac-
tions.
The first issue in the case was whether or not the defendants order-
ed or authorized the plaintiffs to make the contracts of purchase and
sale alleged in the complaint. The defendants admitted that on Octo-
ber 31, 1916, they sent the plaintiffs their first telegraphic order to
make for them on the New York Cotton Exchange a contract for the
purchase of 100 bales of cotton to be delivered in March, 1917, and
that they sent the plaintiffs $500 as a margin to protect them against
loss; but they testified that they did this for Mr. Barrett and Mr.
Martin, and that they never' made or authorized any other orders to
the plaintiffs for the purchase or sale of cotton futures. But subse-
quent telegraphic orders for all the purchases and sales alleged over
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The Federal Reporter with Key-Number Annotations, Volume 272: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States and the Court of Appeals in the District of Columbia, June-August, 1921., legislative document, 1921; Saint Paul, Minnesota. (https://digital.library.unt.edu/ark:/67531/metadc38843/m1/234/: accessed March 28, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.