The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-05
A COMPLICATED STOCK TRANSACTION.

court OF AppenH.
Before Chief Judge Hunt and a full BENCH
Charles G. Asr. appellant, u.s. Daniel W. TonWn-'
SON, Respondent-This Is an appeal from judg-
ment entered ON the decision OF the Supe7ior Court
OF Buffalo at General Term, Tine action was TO
compel the defendant 70 deliver to plaintln 500
shares OF the capital stock OF the Buffalo, New York
and Erie Railroad Company, which the plaintin
claims he purchased from the bate Aaron d.
Patchin, and which were dey cred by Mr.. Patchin
to the defendant for him. The complaint
alleges that In April, 1851, the plaintiff ana
the defendant made an agreemen with MI Patchln
for the sale by him TO them OF 800 shares oil the
capital stock OF the Buffalo, New Y 9rk and Erie Rail-
road company, In consideration OF their agreement
to transfer TO MIN therefor fifteen Of the first mort
gage bonds Of the company OF s1o0 each, and thai
1000 shares OF the stock thus to be transferred were
to belong to the defendant and the remaining
500 shares TO the plaintiff. The tplaint further
alleges that the defendant agreed WI III the plaintH
TO furnish the bonds ten for him sell and nVe
the certificates OF the stock for hmse. and for the
plaintiff; that the 9th day OF Ap rlb 1851, Mr..
Patchin, In pursuance of the agreement transferred
to the defendant the 1900 shares stock and
delivered to him the certificates thereto m aud that
the defendant, In consideration ther 'ot ana In
performance OF the said agreement d eivered to
Mr.. Patchln the fifteen bonds OF ST. 900 each that
100000 OF the stock was for the defe ndant and
$780, 900 thereof was Tor the plaintiff; that thereafter
and prior TO the commencement or this ction the
plaintiff rendered to the defendant five the first
mortgage bonds OF the company OF 81, 00L each, OF
the same character and description as nose fur
nished by the defendant, and demande, the 500
shares OF stock transferred by Mr.. Pai chin TO-
the defendant Tor him, the defendant !ased
deliver the stock The complaint further alleges
that the stock IS worth $50 900 and that h aintn
Is ready and willing TO deliver To the defer IDA VI the
five bonds. The complaint contains an oLer to
deliver the bonds
The defendant, In his answer, admits Mr. Patchin
the owner OF the stock, and that he ira nsferred
and delivered to the defendant certificates therefor
at the time alleged III the complaint and upon the
terms therein alleged He also admits that he, ut
the same time delivered 10 Mr.. Patchin the fifteen
bonds IN consideration OF the transfer or the stock.
The defendant also admits the tender, by tie PLAIN
tif OF the i've bonds and the value OF stock az
set forth in the complaint, and the readiness and the
Willingness OF the plalntin TO deliver TO MIN the i've
bonds for the stock.
The answer contains general denial OF the resi-
due OF the complaint This general denial puts in
issue two facts ony:-First whether the agreement
between the parties TO this action and Mr. Patchin
was made as stated in the complaint and second.
whether the stock was transferred By Mr.. Patchin
In pursuance aud performance OF that agreement.
The Court on the prlor trial, gave judgment for
the plaintiff, requiring the transfer and delivery Of
the stock in question to the plaintiff. That Iudg-
menl was affirmed on appeal to the General Term
OF the court but was reversed by this court at the
september term OF 1867. The reversal was put upon
the ground that the Court at the trial. improperly
admitted III evidence letter written by Mr.. Patchtu
20 the plaintiff Tue ahteS wen nf9anSeH ana read
still on. Au0 caSe ~