Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-02-15

SUPERIOR CouRT, Wednesday, Feb. l4.-The only
case tried today was that OF wood rersus Hamilton.
For the plaintiff il was proved by Messrs. Booth q
Atterbury, brokers' that about the I'D OF August Mr.
Wood came TO them and said that he wanted to bsr-
row for ten days. 100 shares Of the capital stock Of
the jackson Marine Insurance Company.
They remembered that Hamilton had offered to
lend some shares of the same stock and applied to him
for that purpose. lie agreed TO LEND lOO shares OF
the stock for ten days. provided the party borrowing
the same would advance on Il the sum- OF 81, 400
which was at the rate of los per cent the stock at
that time being sold in Wall street for $l06 per cent.
Mr.. Wood lent that sum on the 100 shares. Ham,
lton transferred the 100 shares Booth e. Atterbu-
nv; and Booth & Aterbury transferred the same to
Wood Wosd then gave his check for IS 400 to Booth
s Atterbury and they gave their check for the same
amount to Hamilton Thus stood the first contract.
When that contract became due, on the 22d Sep.
tember Mr.. Wood told B. f. A. that if the owner of
the stock chose to retain the 400 for twenty days
longer he might do So provided that paid interest
upon il up to the 22d September, and with the Under
standing that the loan should be subject to call by
either party on one days notice. Messrs. b. q A.
told Hamilton Of this, and he agreed to II.
Finally, on the 22d September, when the second
contract became DUE they notified Hamilton that Mr..
Wood wanted his money back but ne paid no atten-
ton to their notice and finally, when Mr. AtterDury
saw him. in day or two afterwards ne refused 70 re-
turn the S. 400 and take back the stock unless they
let him have the stock at what was the market price
on the I'd of September, when the first contract be-
came DUE This Mr. Wood refused TO do. MI. w.
held on TO the stock until abost the Sd of December
when he Authorised Messrs Booth & Atterbury TO
sell the same They sold the 100 shares in two lots Of
so shares each respectively to w. }. Robinson, and
to Costar g. Co, at so per cent
This great reduction in price brought Hamilton in
dert TO Wood IN the sum of about $500, which was
the difference between the sum lent, with interest
from the 2nd of September and the sum for which
the shares were sold Ultimately.
The various prices Of this stock at the different
dates in question were as follows:-On the 22d OF
August il was sold for LOG. cash. on the 2nd Sept il
was sold for l02, 3. On the 22nd September it was
sold for 96; and the 3rd OF December it sold
for 60 The sum which Hamilton borrowed on il was
at the rate Of 08 per cent; higher than the market
price.
Neither OF the counsel summed up; but Mr..
John Anthon commended that this whole case might
come ssdcr the denomination Of a regular Wall
street stock obbng shaving transactions and that one
side were as deep in the mud as the others were in
the mIre
He also raised ore or two points Of law, as to whe
thsr Messrs. Wood a. Arerbury would not be con-
sidered, in Wall street. according 10 the custom Of all
their TRANSACTIONS as the principals IN the case. On
these points, the Jury not required 10 pass, and
they fosnd verdict for the plaintiff for the amount
claimed.