Case ID: f-cas_19/html/0039-01.html
Source: Caselaw Access Project
Author: {"author": "NELSON, Circuit Justice.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Case No. 10,868.
    PEABODY v. GILBERT.
    [5 Blatchf. 334, note.] 
    
    Circuit Court, S. D. New York.
    July 14, 1866.
    Definition of “Broker” — Broker’s Tax.
    [This was an action by Augustus L. Peabody and others against Sylvester C. Gilbert and Sheridan Shook.]
   NELSON, Circuit Justice.

The opinion in the case of Clark v. Gilbert [Case No. 2,822] disposes of this case. The plaintiffs are banker's, and do business as such, by receiving stocks, bonds, &c., for sale, and by lending and advancing money on stocks, bonds, &c., and in default of repayment, sell the same, and, also, purchase and sell stocks, bonds, &c., on their own account, and not on commission, or for others. They also purchase and sell stocks, bonds, &c., for others, under certain stipulations as to risk, losses, and profits, which is the business of a broker, and the sales are subject to the broker’s tax.

[In 5 Blatchf. 334, this case is published as a note to Clark v. Gilbert, Case No. 2,822.]