davidaulloa/AmericanStories huggingface dataset:
The morning call., 1892-04-20
STOCKS ON MARGIN.
Their Holding for Balance OF Purchase
Price Is Illegal.

Ahelr hoIuing Tor Balance OF PurCh ase
Price Is Illegal.
An important decision was rendered yes
terday by Judge Levy on the question of
dealing in stocks on margin. The decision
was for the plaintiff in the case of W. n.
Wetmore against +. Z. and Mary A. Bar
rett to recover, as he claimed, $3.50 Tor
moneys had anu received by them for his
benefit. This they denied, but affirmed that
they paid out at his request 1880
The fact is the money was lost in mining
stock speculations, aud the opinion dealt at
some length with the testimony in the case
20 show the character of the various trans.
actions which passed between them Wet
more claimed TO be entitled to recover the
whole sum deposited with the Barretts, be-
cause the transaction is illegal and in viola
ton OF Section 26. Article ". of the Con-
sltutlOn. prohibiting the purchase of shares
of mining stock on margin.
The celebrated case of eastman VS. Root
in which the Supreme Court first dealt with
this point, was applied, but the defendants
counsel claimed that 1t had no bearing, be-
cause this action is for money paid as art
OF the purchase price of stock actually pur-
chased for Wetmore as ordered by him.
lie had determined what stocks he wanted
and ordered them bought. borrowing the
balance OF the purchase price from the Bar
retts. Judge Levy's conclusions are as
follows:
Plaintiffs dealings with Barrett were Alto
getber on margin; when the value OF The stock
purchased did not amount 10 the sum paid
p!3iniln was required 10 put up other stock as
security or cash 10 keep the margin good; as The
market iactuated upon purchasing stock The
cost price was charg d 10 plaintiff less the
amount or margin put up In cash; when sold his
account was credited with the amount realized
lie was, OF course. charged with the brokers'
commits sl0us and the interest on the money ad-
vanced- such were the facts In the ease of Cash
Alter careful consideration OF the eastman Root
case taken I'D connection Win Sec ion 20. Arti-
Gle Nv OF the State Constitution, l am clearly of
the opinion that buying aud selling of the shares
OF Inc capital stock OF corporations IN any stock
Dohfu. STOCK exchange, or stock market Is void
In this State except the stock is deliver ed 10 the
purchaser or paid for In full. The sale OF any
STOCK wherein the broker hclds the certificate
as collateral security for the balance OF the un-
paid purchase price and has the option Of selling
when The stock depreciates, or holds Ii subject
10 the rise and fall OF the market, is a contract
void In This Stale
The morning call., 1892-04-20
DOCTORS AGREE.
Session of the State Medical Society in
Union-Square Hall.

Session of the State Medical Society in
Union-Square Hall.
The annual session of the State Medical
Society opened AT Union-square Hall yes
terday. About 100 members were present,
fairly representing every section OF the
State. DR.. o. o. Burgess of this city pre-
sided In his address DR.. Burgess ex-
pressed the idea that the time was at hand
when every newspaper would have It's med
ical department, and that the repugnance OF
physicians to advertising would be over
come. He favored the bill now before Con-
gress providing for national board OF
health. lie had been assured that II would
pass. He favored the enactment of ma
tional law regulating the practice Of med.
cine aud establishing standard OF medical
education.
A short address was made by Mayor
Sanderson, who welcomed the society TO
this city.
A reception was given to the ladies of the
society by Mrs. .. o. Burgess at 329 Geary
street between and 5 o'clock in the after
noon. and a theater party was held Ia the
evening at The Acazar The programme
for to-day and tomorrow is:
Wednesday mOrning-Visit 10 the Mint,
Academy OF Sciences and State Mining
Bureau.
Wednesday afternoon-A trip On the
steamer Mcdowell to points of interest on
the bay for the families of visiting members
only, leaving WashingtOn-street wharf at
$3.50 sharp.
Wednesday evenng-Racepton at resi-
dence of DIR. r. A. Mclean.
Thursday morning-Luncheon to ladies at
Sutro Heights by Mr.. SutrO.
Thursday evening-Reception and ball at
B'nai Birth Hall.
The morning call., 1892-04-20
TRACK And TRAIN.
The General Grievance Commit.
tee Getting Ready for Action.
Mr.. Huntington Appoints a General Pur-
chasing Agent for the Southern Pacific.
The Presidents Annual Banquet.

The members of the general grievance
committee Of the order Of Railroad Train
men are holding three meetings a day at
Academy Hall on Mission street, where Il
new wage schedule which the Southern
Pacific will be asked to adopt is being
formulated. The grievances far outnum-
Der those of any previous complaint. but
the chairman OF the committee will not
make the full list known at present. 1t is
given out, however, that the company Will
be asked to run larger crews in the local
freight and passenger service. The law ex-
pressly provides for specified number of
brakemen for freig ht and passenger trains.
1t says that train of over five ears shall
carry two brakemen. The Southern Pacific
is running heavy passenger trains in many
of its divisions with one brakeman. and re-
Gently train Of 80 cars was sent over the
coast division without a brakeman at all
OF course the automatic brake is used on all
of these trains. but this ingenious labor
saving device frequently gets out of order
and the question naturally suggests itself,
what would have become of tine 3S-car
special above mentioned if the air had given
out on one Of the steep grades so frequently
encountered on the coast division?
TWO MEN FOR THREE MEMS WORK.
On freight as well as passenger trains there
is tendency on tie part OF the company to
make TWO men 90 the WORK formerly per-
formed by three and four. and at the same
time TO eYade the law which applies TO both
branches of the service. Ii Is against the
statutes of California To run freight train
with less than three brakeIhen, yet the COM
pany persists In handling It's local freight
trains with two men, and on many Of the
runs only one is employed.
The officials say that ii Is not necessary to
SEND more than one man on trains equipped
with air-brakeS, giving as a reason that there
L, IL
law requiring full crews. however, thought
that the automatic brake is very delicate
piece of mechanism. often giving cut at the
time VIXEN most needed.
BANQUET.
Mr.. HuntiBgtOn's annual banquet will
take place at the Palace Hotel on saturday
evening. Only heads OF departments will
attend.
X. II. Schwerin, late lieutenant of the
United States navy, has been appointed by
Mr.. Huntington general purchasing agent
of the Southern Pacific Company. Hereto
fore the respective departments have been
managed in haphazard sort OF way by
a dozen different men. and it has long been
Mr.. HuntingtOn'S desire TO see the supply
department in the hands of one agent who
alone will be responsible for leakage aud
shrinkage.
Mr.. w. L. Carson, better known as kit
Carson, has been appointed travelling pas
senger agent Of the Canadian Pacific Tor ter
ritOry embracing the States OF California and
Nevada. Mr.. Carson Will have headquarters
IN this city and he assumed his duties yes
terQay.
The morning call., 1892-04-20
COURT OF APPEALS.
British Tugb"a,s Can Tow Ships
American Waters.

British Tusboa,s Can Tow Ships in
American Waters.
The United States Court of Appeals is
rapidly disposing of the long calendar. and
the Judges Deadly. Gilbert and McKenna
are daily in session for many hours.
Yesterday Judge Gilbert flied decision
covering the cases of the British tugs Pilot
and LOrne. which were fined in the United
States District Court of Washington for
towing vessels in American waters. Judge
Gilbeit's opinion, which is concurred in by
the other judges, reyerSeS the decision OF
the lower courts, and releases the tugs from
all obligations to pay any fines. j. O. Duns-
muir, who Is the owner of both vessels, has
by virtue of this decision a claim on the
Collector OF the Port for 1854. which amount
he paid in the Lorne case under protest.
The Pilots fine has never been paid, the
suit just decided adversely being for the
amount due, S6i30.
The appeal case of w. H. Lakin of Ohio
VS.. w. I. Roberts ct al of Plumas County,
was argued and submitted yesterday 1t in
wolves the title of mining property in the
JamisOn Quartz District aud questions as to
the extent of the ledge of the Eureka mine
The case was tried and dismissed in the
United States Court in October, 1891.
Argument in the case of the johnson
Company of Kentucky vs.. the Pacific Roll
ing Mills, involving an alleged infringement
on patent rights TO q certain street railroad
rail, was commenced yesterday afternoon,
The morning call., 1892-04-20
LEDERER'S FIGURES.
Admitted Errors in Newman & Levin
sons Accounts.

sons Accounts.
Judge CARRIER resumed the tedious taking
OF testimony On the motion of the heirs of
John Levnson 10 have receiver appointed
of the firm of Newman & Levinson, the af-
fairs Of which, it is alleged. have been mis-
managed by the surviving partners.
Appraiser Rich further explained the
supposed inaccuracies discovered by him
in the book. His testimony had bearing
principally upon the values OF the inven-
tories as shown by the balance sheet made
from the books. The accounts were badly
kept and 1t was utterly impossible to trace
some Of them up Rich recalled one in
stance during his investigation of the &C.
counts where he could not find bills show
ing the disbursement of about $4,000. He
said lie asked Charles Lederer, the firms
bookkeeper, for their vouchers, but re-
ceived no satisfaction.
George May, who assisted Rich in the ex-
animation, gave corrob0ratiye testimony.
The Newmans then filed amendments to
their answer incorporating the subject mat
ter OF corrections as outlined in the affidavit
of Charles Lederer. the bookkeeper of the
hrm. lie represented that the affidavit made
by him on the LIST inst. in opposition TO tho
motion to appoint receiver was most
hurriedly drawn up, and therefore several
errors had erept in. Since then he had i'll
vestieated the books and checked them,
and he iound that In the balance sheet fer
eight months prior to the death of John
Levnson there was an error in the out
standing and solvent accounts due amount
ing to S2l96 %, of which 1857 "a, called
the suspense account" was omitted ia the
assets and should have been added to the
sum Of S27,645 50.
Other items omitted Increased the ac
counts by S279 OF, increasing the net earn
lngs Tor The year ending February %, 1890,
by 1897 70, making total aggregate of
S7904 90, OF which the share OF the estate
would DE 1898 Is in addition to all that has
been paid.
1t was also found that the firm indebted
ness is Sl32,6j5 &C. as it has always been
represented. and how the plaintiff reached
the conclusion that it is only Sill, 1872 80 is
omprehensible, or that the outstanding
and solvent accounts are $50, S22 81. In truth
the latter should have been repres ented in
the statement of assets at S29, 49, 0S against
which In the liabilities there should have
been placed liabilities amounting 10 S29S3 %.
In affidavit by Edward N. Boyle, assist
ant bookkeepeT, bore out these facts, and
then almost until the adjournment hour Mr..
Ledcrer was on the stand explaining away
his mistakes, declaring himself man OF
large family and well connected, who during
the lie OF Levinson had not only acted by
him as an employee. bat as a friend The
investigation will be resumed again on Mon
day.
The morning call., 1892-04-20
How a Burglar Secured Beer.

Frank Keller. alias Jack Kieff, was
captured yesterday and booked for burg
larry. Some days ago he stole two pictures
and clock from residence at 55I Bryant
street. He traded the pictures to a saloon
keeper for bottle of beer and sold the clock
TO a pawnbroker for so.
Keller was stabbed few nights ago by a
Mexican, who accused him of trying to rob
him. The police believed the Mexican S
story. and being convinced that Keller W as
crook held him until the detectives il-
yes tigated mis- doings.
The morning call., 1892-04-20
Father Mathew Society.

At the regular meeting of Father Mathew
Total Abstinence and Benevolent Society
No. 1 The following officers were installed
Peter Rafferty,, president (re-elected); John
kearney, first vice. president; NJ. Clarke
second vice president; William NJ. Gil.
lespie, recording secretary; Henry T. GAIT
ney, financial secretary (re-electedD; Will
liam III. Gr0wney, correspondence Secretary /;
Timothy Donovan, treasurer; board of
trustees - Joseph de Nader. Thomas
Foley. Edward McKeon, Daniel Calnap.
ID ID Murnhv
The morning call., 1892-04-20
Hawkins Again on Trial.

Michael Hawkins was again before Judge
Trout yesterday for trial, this time on a
second charge Of having writteI threaten
ing letter in the effort to eXtort money
from Mrs. Annie D0nahue, Three jurors
were obtained and court adjourned. The
letter complained of was written to Rev.
Father Montgomery. and intimated that a
tragedy would result if some friendly party
did not exert his influence to have Mrs
Donahue pay him $1,000 that he said the
Donahue estate owed him.
The morning call., 1892-04-20
Ordered to New Orleans,

When The CALL stated In its Sunday
issue that Dr. Mcintosh was to be relieved
at the Angel Island Quarantine Station by
DIR. Carmichael, it was not known at the
time where DIR. Mcintosh was ordered
TO. From IA friend of the Doctors, n
CALL reporter learned Yesterday that his
new held Of labor will be at New Orleans.
whittier he will start In few days. As Dr.
The morning call., 1892-04-20
MILITARY DINNER.
Associated Retired Officers of the Ma.
tional Guard Meet.


tiona1 Guard Meet.
The Associated Retired Officers. n. G.. c..
held special meeting and dinner at the
Occidental Hotel Monday night Those pres
ent were: Colonel Ii. Bendel, Lieutenant
Colonel S. ID. Mayer. Major J. f. Hughes,
Major c. G. Keene, Major g. w. Reed, Cap
tain w. E. Brown, Captain j. N. Pike, Cap
tain }. K: Klein, Captain j. Fl. McMenomy.
Captain l.. Siebe, Captain ID. j. Sullivan
Lieutenant J. Kip. Lieutenant c. Nutting Jr.
The officers wore the badge which was
recently adopted aud described in THE
CALL
A letter OF regret was re ad from Colonel w.
X. Smedberg, the commander, and speeches
were made by Colonel Bendel. who pre-
sided. Colonel Denicke, CAPTAIN
w. Il. Brown, the adjutant. Captain Pike,
Captain Siebe aud Captain Sullivan. Lieu
tenant-Colonel Mayer sang Were tenting
tonight on the old csmp-ground," while
stories and "reminiscences were related by
the other members present.
The morning call., 1892-04-20

motion for new trial in the case Of John
Henschall against Charles Henderson, on
Inc ground of errors occurring during the
trial and Of newly discovered evidence. On
the trial jury awarded Henschall $1,000 as
damages he sustained by reason of con-
sprdcy 10 defraud him Of certain lands in
Tulare County
The morning call., 1892-04-20
OCEAN STEAMSHIPS.
PACIFIC MAIL STEAMSHIP ca.

THROUGH LINE TO NEW YORK. VIA PANAMA
Steamers Will sail at NOON on the 9Th. n<s
18th and 18th OF each month calling at -CtES5p
various ports of Mexico aud Central America
Through line sailings-Aprl 25 IS. City of New
YORK; May 8, SIS. san Bias; May IA, SIS. Acapulco.
WAY LINE TO MEXICAN AND CENTRAL.
AMERICAN PORTS AND PANAMA
STEAMER SAILS All NOON 18TH OF EACH
MONTH. calling at Mazatlan. san Bias. Manzanilio.
Acapulco. Port Angel, Saiina Cruz, Toaaia san
Benito, Ocos. Champerico, san Jose de Guatemala
Ataluta. La Libertad. La Union AmapaIa. Coriato
San Juan del Sur and Punta Arenas.
way line saiInC-ApriI IS, IS Geo. W. Elder
when the regular sa ling date fails Sunday,
steamers will be dispatched the preceding Saturday
JAPAN AND CHINA LINE
FOR YOKOHAMA AND HONG-KONa
Connecting at Yokohama with steamers for
Shanghai aud st Hong Kong for East Indies
Straits, etc;
China tvia Honolulu), Thursday, April IS, at P "
City OF Peking Saturday, May 81. at 3 N
City OF RIO de Jaueiro ..Tuesdav June IL at s p NJ
Round-trip tickets 10 Yokohama aud return ca
Guced rates.
For Freight or Passage apply at the Office eornsr
First and BraHHan streets.
Branch Ofice-202 Front street.
ALENANDER CENTER. General Agent.
The morning call., 1892-04-20
Richmond District Sewer.

James McCoy has sued the Mayor and
Supervisors to compel them to award to
him as the lowest bidder the contract for
an outlet for sewers of Richmond district,
instead Of to the City Street Improvement
Company, as reported by the Street COM
mi
The morning call., 1892-04-20
A Cinder in the Colonel,. Ev.

Colonel William Taylor, an ex-member of
the engineer corps Of the British army, went
to the Receiving Hospital yesterday after
noon TO have big cinder removed from his
left eye. He said the cinder blew into his
eye during his journey from Fresno to this
The morning call., 1892-04-20
That Bulishead Breakfast.

The bnllshead breakfast to be given at the
West End Gardens. San Rafael, by the indie
pendent Order of Old Friends, will be given
on Sunday next. Theodore q. Cockrill, ex-
Chief of Police. and Harry Nieman viii be
directors of ceremonies.
The morning call., 1892-04-20
ROYAL MAIL STEAM PACKET ca.

CLEANERS LEAVE ASPINwALL
~ fortnightiy for the West Indies and S(x6fA
southampton, calling en- route at Cher 24Ak21e1s
hcurg. France aud Plymouth 10 land passengers
Through Bills OF Ladiug IN connection with n,
FACING Mail ). Co. issued for freight aad treas lrs
10 direct ports In England and Germany
Through tickets from San Francisco TO Plymouth
Cherbonrg, Southampton. First class $l95: tniri
ei1ss $SI bO. For further particulars apply to
NlVu kAkkOEf = Gu. Agents. aJj Cai,Ior aiats,
The morning call., 1892-04-20
Tn he Kanuuefed.

The Union League Club will BANQUET
Hon. Frank l.. Coombs, the newly appointed
Minister to Japan, on Friday evening next
at 80 o'clock.
The morning call., 1892-04-20
A Professional Burglar Held.

Charles O'NeilI, alias Williams, pro.
fessional housebreaker, was examined yes.
terday in Department of the Police Court
and committed for trial on four charges
Of burglary.
The morning call., 1892-04-20
PACIFIC COAST STEAMSHIP CO.

DISPATCU STEAMERS FROM SAN A~a
~ FRANCISCO for ports In Alaska = A M Icy
April and May g. 81
For British Columbia and Puget SounI porty
April and MAY l. g. IA 49, 1l %: June and JuIv :
&, IS. s, %. 20.
For Eureka, Humboldt Bay, Wednesdays. 8 A. VI.
fOr Santa Ana. Los Angeles and all way ports every
fourth and fifth day 8 A. NJ.
For San Diego stopping only at Los Angeles, Santa
barbara and San Luis 0biSpo. every fourth and fifth
day 1T l a. NJ,
For Forts in Mexico, first OF esch month.
Ticket OItice-PaIace Hotel, 4 New Montgomeryss
G00DALL. PERKINS Il co, General Agents
tt 10 Market st San Francisco
The morning call., 1892-04-20

Mcintosh has already served four or five
years at that port he will be enabled to re-
new many old friends lips on his arrival
there
The morning call., 1892-04-20
FOR PORTLAND R. ASTORIA. OREGON,

THE UNION PACIFIC RAILWAY sn~,
ocean Division-and PACIFIC COAST <acEx2
STEAMSHIP COMPANY Will dispatch from Spear
street Wharf at 10 NJ, fo- the above ports oas };
their Al iron steamships. viz:
COLUMBiA-Aprii 2. 49, May l. 10. 25
STATE OF CALIEORNIA-April L. 81 May s.
II. %
OREGON-AprH 3, Is, 81. MAY g. 81
Connecting via Portland with the Sorthern PacIis
Railroad oregon Short Line and other diverslay
lines fer all points in Oregon, WASHINGTON British
Columbia Alaska Idaho. Montana. Dakota. Utah,
wyoming. Yellowstone Park and ali Points East aad
South and to Europe
Fare to PortIand-Cabin. SIS; steerage S. round
fIip, cabin, $50
Ticket ofices-l Montgomery ST. and Palaces Ho-
lei. New Montgomery
6oODALL fERkINS & Co, Supt Ocean Linz.
lu 10 Market ST San FraneiScn
The morning call., 1892-04-20

New Trial Asked For.
Judge Hawley of the United States Cir
cult Court has taken under advisement
The morning call., 1892-04-20
CQMPAGNIE GENERALE

C0MPA6NIE GENERALS
IR S =. T L A TIC U e
French Linz to Havre.
COMPANY'S PIER (NEw), AZ NORTH I&a
~ River. foot of Morton ST. Travellers by sErrSzSSe
this line avoid both transit by English railway and
the. discomfort of crossing the channel small
boat.
LA TOURAINE. Cant FrangeuI. ............,,,
................. Saturday. April S0gn, 100 A. "
La CHAMPAGNE, Capt. Boyer...........,..,,,.
....................-.S Saturday, May 7th 100 Az
LA BoURGoGNE. Capt. Leboeuf. ....,..........
...... .......... Saturday, May l4th, 4:50 AM
LA GASCOGNE. Capt Santeli..
......... Saturday. May Il, 8: 80
IS For further particulars apply 10
A. FORGET. Agent,
No Bowling Green New YORK.
y. +. FUGAZI & CO, Agents, 5 Montgomery ava,
San Francisco
Branch once. 10 Montgomery street. mr2V e
The morning call., 1892-04-20
OCEANIC STEAMSHIP COMPANY.

THE SPLENDID 5eOo-ToN STEAMERS xe-sa
OF this line, carrying United states 5A-r.f1Hr
Hawaiian and Colonial malls. from L ois0ln-sc
W AaTf under
Fofs Ho~oIUT.U cNyY.
The morning call., 1892-04-20
WHITE STAR LINE.

For freight and passage apply at ONCE 927 Marks.
street J. d. SfRECkELS s. BROS.
xopt General Arsn.x
The morning call., 1892-04-20

J0R HONOLULU, AUt KLASD AND SYDNEY
DIRECT.
SIS. ALAMEDA. FRIDAY. April 90. atsPH
The morning call., 1892-04-20

for Morning. for Afternoon.
sundays excepted. saturdays only
tSundays only.
rue PtCIFIC TRANSFER COMPANY
VIII cali for and cheek baggage from hotels a4v
residences Inquire of ticket agents for time car Ii
and other Attenuation
Arizona republican., 1892-10-09
STOP THIEF.

The Gazette yesterday morning came
out in lsbored, but somewhat con-
fused editorial, in which the impression
was evidently desired to be conveyed
that the Republican party OF this
county was trying to manipulate the
Populist organization. The remarks
rather showed the fingers OF raw re-
cruit, from the line OF argument
and general clumsy make up.
1t has been matter of common re-
port for days, that certain Demo
Gratis had joined the Peoples party for
the purpose OF getting certain" Demo
cratic candidates endorsed. The others,
presumably were to be left to look out
for themselves. 1t has also been talked
upon the streets that a fat gunny-sack,
contents unknown) had been packed
about from one Populist leader to an
other, but declined with thanks. Hence
this editorial in the Gazette OF
stop thief" The cry is decrepit and
slightly moth-eaten.
lhC publlt III thlo hSNh VI WIG "NNNs
is not to be deceived by noise and TOM
tom into turning its face toward the
racket while the court house gang COM
mi.s another piece OF rascality. Dema-
goguerv may do with rabies, but the
court house rats are not dealing with
rabbles.
So far rs the Populists party is con-
cerned The REPUBLICAN is as unfamiliar
with their program as it is with the
breakfast order OF the Akhoond OF
Schwat, or the length OF time the
Gazette will continue publication. THE
REPUBLICAN, however, does not intend,
as has the Gdzeite, to berate them and
BLACKBOARD them simply because they
differ in certain ways as to the best
means of accomplishing a common end.
1t is willing to accept the idea that they
are honest in their desires for good
government and are good, substantial
men, until they prove themselves to
the contrary.
The fact that the corrupt methods OF
the court house ring has assisted in
the popular indignation, which has
resulted in the formation of a Populist
party, is the sole and only reason for
the scurrilous attacks which the Gazette,
the court house organ, makes. And to
give virtuous and respectable color to
its position, it seeks to hide the real by
accusing it's betters OF the same villaIny
which it tried to perpetrate.
The court house rats must seek some
more opaque method OF diverting atten-
ton while they get into the granary.
This dodge is evidently the gigantic
conception OF some young person whose
experience has not yet caught up with
his brain tissue.