, 1874-11-25
4 SUIT GROWING OUT OF aTUEGEs'
TRANSACTIONS.

NunnY NELSON co. WANT TO RECOVER FROM
TIE cooK COUNTY NATIONAL.
Another suit growing out Of Stu1gos' cornor,
and promising to mako somo important revoIa-
tions, waB begun yesterday afternoon by hurry
Nelson d 90. against tho Cook County
National Bank. Tho complainnnte, who state
TINT they aro commission merchants and u1rm-
berB OF tho Board Of Trade, al1cgo that, at yari-
ous tmcs in August and soptombor last, thoy
purchased from ". N. sturges 1000 bushels Of
No. corn ut prices ranging from 6As{ cents to
7oL contH, and on the 30th Of September they
bought 50 ,00o bushels at so conta. They also
purchased 5000 bushels oats ?. s7!I cents. in
posted, or pretended to deposit, in tie
Cook County National Bank, which is
made defendant IN the suit. $1,000
ut various timca as margins on theso salce. At
the same time ho gaTe compliments
NOTIFICATION T1oKErs,
Of one Of which tho following IL copy,
cook COUNTY N471ossn 1ssk,l
r. N. sturgcs has deposited With this bank 81 900 as
margin or aeclrity On contract with Murty Neaou +
Co. xhsh a,ans On tho r.
no. ees. ~'
Btu1Ros did not tnlnll his contracts BY tho de-
llrorY Of tho September gain, al promised, md
amount. their losa thereby being 80 $3.50. They
olatm that they bought at rogular ratos, md that
tl1la loHH was 0ccnBionod
THROUGH s1unaEs' DEFAULT.
They Immediately made out IN account and
presented 1t to 5turgos, who, though admitting
Its correctnossr refused to pay 1t. 4 fow days
after they presented their claims and tickets to
tho bank, and demanded that it should
DELIVER TO THEM THE alAnGiNS
which sturges had deposited. This the bank
refused to do, alleging that sturgeB had not de-
livorod TO it the other certificates indorsed by
him, which it pretended were issued 10 him Ut
tho sane time tho notification tlckots Wcro
giycn.
Compalnante also charge that tho bank, in
accordance with tho rules Of tho Doard
Of Trade. has hlod bond with tho Di-
rectors as. security for. ita action as do
poaito!!y Of margins. and that BY anotner
case Of failure Of tue contracting parties to aet-
tie and adjust their respective claims undor the
contract within tnroo days after ita maturity,
the party holding ths deposits shall pay the same
tlo contract appear to be due to etier or both
Trndo,"
THE 1ASK IS HOUND TO rAY THEM
their account TfIhoy, therofofo, charge that At
onicora, are, aud have beop. uslng tho fluids ct
the bank for thu purpoao Of applying the said
Sturgcs with security. so as to enablo him to
carry on his businoHs on tue Board that tho Of
tlcers arc Interested in his tradoa aud have con-
troasa him In ho refusal to indorbo tho tiokets.
Complainants charge that Sturgcs
IL ISholivENT;
Tint anit on tho boud given by tho baut to tho
Board Of Trado would bo long and doubtful
I and that they have offered to i,,-
domnlfy 1t II It, would pay over
tho amount claiu,ed, which offer haa
boon refused, They also allogo that tho bank by
It's action has become an improper depository
that by itH couduat its credit has been seriously
impaired, and they consequently ask that it may
be compelled to pay oyor the loss shown by their
account to have been sustained by them through
Bturgos' failure to keep hiH coutlact.