A SHAKE TRANSACTION.
[fit TELKGKAVII.—-PJIF9S ASSOCIATION.] Dim Div, Monday. A cask onnie before Mi Ciacw, S.M., today, in which 'I'llomas Steel sued George Neill for £38 10s 8d damages for nondelivery ot 100 sharer in Divjaell's Nutown Dredging Company. For plaintiff it war stated Neill instructed Watson, a sharebroker, to sell 300 shares. Wat sou sold the shares on February 27 la Steal at 'la. Defendant continually promised to complete the transfer, and did not refuse to complete till March, when, meeting Steel ir the street, and learning lie was the purchaser, he declared he would not deliver. For defendant it was contended that Watson was only authorised to sell on change, and only on condition that 100 shares were sold by Steel. The object was bj putting 200 chares on the market in one day to reduce the price, when Neill intended to buy more shares. As the sale had not been public, and Steel did not (sell also, Neil! repudiated the sale. Mi. Carav gave judgment for £43 .15s, the difference between the price of the shares when bought and the price when the salo was repudiated, with £7 Ms costs.
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Bibliographic details
New Zealand Herald, Volume XLI, Issue 12545, 12 April 1904, Page 5
Word Count
193A SHAKE TRANSACTION. New Zealand Herald, Volume XLI, Issue 12545, 12 April 1904, Page 5
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