GAMBLING IN METALS.
“MERCHANTS, NOT BOOKMAKERS.” [By Elfectric Cable —Copyright.] [Aust. and N.Z. Cable Association.] (Received Tuesday, 7 p.m.) LONDON, July 13. The methods of the Metal Exchange were considered by Mr. Justice Shearman in a case yvherein the defendants misfed the point whether certain dealings wore really only gambling transactions. It was stated that small numbers of members, accompanied by clerks, assembled in a room arranged like a prize-ring. The dealings in each metal lasted ten minutes. Someone shouted: "I’ll sell so and so,” and someone accepted, and the clerk’s record constituted a contract. There were eight rings for four metals and members only dealt in “differences.” Mr. Justice Shearman gave judgment that the metal exchange yvas not a collection of bookmakers for gambling but a market yvhere enforceable contracts yvorc entered into, though from the outset, both parties contemplated there yvould be no actual deliveries of metals.
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Bibliographic details
Manawatu Times, Volume XLIX, Issue 1273, 15 July 1925, Page 7
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149GAMBLING IN METALS. Manawatu Times, Volume XLIX, Issue 1273, 15 July 1925, Page 7
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