A SHAREBROKING CASE.

New Zealand Herald, Volume XXV, Issue 9084, 19 June 1888, Page 5

A SHAREBROKING CASE.

DECISION OF A CHRISTCHURCH

MAGISTRATE.

[by te&egraph.— press association.] Christchotioh, Monday.

Mr. Beetham, Resident Magistrate, gave judgment to-day, in a case of considerable importance to sharebrokers. The faebs were that on March 28 Mr. G. Heppell, a sharebroker, purchased on comminsion from Mr. P. F. Kahlenburg, 150 shares of the Rainy Creek Extended Gold Mining Company, at 12s. Hoppell gave a contract note, which did not contain the name of his employer. The following day he. stated that his buyer would not complete the purchase. Kahlenburg then sued him for £8. Mr. Louis Cohen appeared for the plaintiff, and Mr. W. P. Cowhngshaw for the defendant. Mr. B. Beetham gave judgment for the defendant, on tho ground thato no lose was shown to have been sustained by Kahlenburg, and that the other knew that Heppell was not buying for himself. The important point of tho case is thai) tho Stamp Acfc of 1882 prescribes that the contract note must boar tho name of the actual purchaser, or is otherwiae void. Tho contract) notes generally given here do not bear the names of the buyers, and there is some excitement among sharebrokers over the case.