The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-01-31

The following is the Referees report of an
important Brokers case in the New York Su-
preme Court
Archibald Ogilvie and henry W. LOWS. James
hEFEREEs REPoRT.-I, James B. Haskin, the Re-
feree to whom this action was referred to hear try
and Az ueteImne tne same, oy an order mace and en-
report that have been attended by the parties
herein and their counsel, george G. Barrett, Esq
Ior the plaintiffs, ana Fullerton and Knox for the
defendant and have heard all their proofs and argu-
ments ana have duly consideIed the same. And 1
do fnd as
First That at the time OF the transactions herein
alter referred to, the plaintiffs were copartners IN the
business OF stock brokers the city of New York,
under the firm name of OgilY1e & Son, and we re
members OF the regular board of stock brokers
said city.
Second. That shortly prior to the 10Th day of
March, 1854 the defendant employed sald plaintiffs
as his Stock brokers, to buy anu sell for hIm and
bs account upon speculation, of the stock or
such corporations he (said deIendant might desire
10 speculate in. The defendant hao previously
sIecuated IN stocks Ia This city. The Arrangement
then made between the plaintiffs anu the defendant
was partly expressed and partly implied, or ief. to
The usage ana custom IN such IL was i'm.
pedly agreed between said plaintiffs and defendant
IN accordance with the usage and custom in such
cases land the USAGE and custom in this city such
cases Is as specified IN the following findings such
implied agreementl that all shares of stock pur-
chased ana solo by the plaintiffs tor and on account
OF said defendant should be purchased and sold in
their (sad plalnhfsp name, ana that the name of
in such transaction; that the plaintiffs should bOr-
row or raise money on the snares 80 purchased by
tine hypothecatiOn or other use thereof, and with
such moneys, together with the re-
celved trom the defendant for margins, they are
termed, sad plaintiffs should pay for such shares OF
stock, and that SAID shares of stock should thus be
earned, as IL is termed, until their SALE when by
means o. the proceeds of said sales the said loans
should be Uald and said SHARES be released and de-
hvered TO the purchasers on sucn SALE The plain
htis were TO act as the agents and brokers' OF SAID
defendant IN so 0uSing carr ing and selling SAID
shares OF stOcB, IN ettecing such loans thereon and
| generally IN all the transactions attending sad
speculatlons ana for their services in that respect
was aRleed that the plaintiffs should have com.
mission of one-ePhth of one per cent upon the par
value Of any such shares oil stock for purchasing
| and like sum Tor selhng the same, Ii was also
agreed that the defendant sh uld provide the ain
| hfs al all tunes WITH a ID keeO IN their hands
their security against depreciation IN the market
ValUe Of sald shaIes what rs termed maraIn OF ten
| per cent, BEING such sums OF money would
amount to ten per cent. upon the ar va ue o. the
shares OF stock pun chased or sold, and it was
| phedy agreed tnat in case OF the decline in the
marketable of sHch shares, said defendant should
hod TO such sums oJ money 80 constituting what Is
| termed such margin rom time TO time such other
sums as would at all times afford the SAID pantlf
| such margin OF ten per cent against furIner de.
| pIeclatlon Ia such market value of said shares.
| third At the time OF such employment ami az eo'
ment the defendant was and ever since has been
resident OF NeWburgh, Orange County, this state,
and Lad his office there Tor the transaction OF bus-
ness but he was during the times transactions
| hereinafter specifieu frequently absent rom New
| DuTgh ON business.
Fourth Thai pursuant 10 the employment agree.
ment aud understanding referred to IN the second"
tnGing, the defendant furnished SAID ain if from
time 10 time with sums Of money as, and for sucn
maFoins amounting IN the aggregate 10 the sum of
$l3 1870 thirteen thousand four hundred aud
eighty eight dollars and seventy five cents, and by,
and at the ceendanP special instance and request,
ana on his speclnl Instructions and authority the
plaintiffs purchased tor him. ON his account, all
oi the shares of stock ,ecifed in the account or
statement hereto annexed marked "a" ;" and made
part OF this my report at. the respective times and
prices therein specified, and sold for MIN and on his
account under such special instruction all the shares
OF stock at the tunes and prices therein specified,
except the four hundred shares of STOCK of che Mil
waUkie and Prairie du Chen railroad Company, the
five hundred shares OF stock OF the Philadelphia aud
Rea0inP Railroad Company, and the five hundred
shares OF stock CT the Pittsburg, Fort Wayne aud
Chicago Railroad Company the s,les of winch wero
not made under instructors from the defendant but