New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-07-06
BULL, BEAR AND BUTCHER
All Three Met in Wall Street, and
Thereby Hangs a Tale.
THE JURY AWARDED $8,151
Court Set Verdict Aside, as the
Plaintiff Statements Were
Not Corroborated.

If Lawrence c. LommeIl who is a pros
porous Washington Heights butcher, had
not been so secretive about his indulgence
In stock market speculation he would have
more money to-day and would not be tied
up in a long litigation over his losses
He sued Thomas c. Buck & Co. Stock
Exchange firm, for the alleged conversion
of 200 shares of Amalgamated Copper and
100 shares of Colorado Fuel and Iron
The jury awarded him sS.151 IS, but
LommeIl will not collect the money just
yet, for Justice Greenbaum has set the
verdict aside as against the weight of evil
dence.
Lommell tried to prove that Louis G.
White, through whom he made his deals,
acted in many instances without his au-
thority. Unfortunately, he was unable to
produce White, while the defendants had
all the transactions recorded, black on
white
White used to be in the employ OF
Thomas c. Buck & Co, for whom he
obtained customers, managing their ac-
counts. He used to deal at LommelFs
butcher shop, and succeeded in persuad-
ing him that getting fat stake from the
bulls and bears was not nearly so hard as
cutting juicy steaks from side of beef.
That looked good to Lommell, so he
opened an account with the brokerage firm,
his first order being for 100 shares OF
Rock Island. This was in June, 1901
Then he put up amounts aSgresaung
$4,000 All Lommells transactions were
made through White.
He was so careful TO keep the knowl-
edge of his stock speculations from his
family that he instructed Buck & Co. not
20 mail him the daily market slips and
monthly accounts, but to turn them over
to White, who then gave them to Lom-
nell.
The butchers account with the brokers
was wound up in March, 800, nine months
after it was opened, but Lommell did not
know it.
About the same time White left the firm
of Buck & Co. and went into business for
himself The brokerage firm did not hear
again from Lommeu until January 6, 1903.
when he demanded the delivery of 200
shares of Amalgamated Copper and 100
shares of Colorado Fuel and Iron, tender
ing $4,000 in cash.
The brokers informed him that the stock
had been sold on Whites orders and that
his account with the firm had run down to
50 cents.
Lommell said he never authorized White
to sell the stock.
He then attached Buck & Co.'S bank
account and sued them for s11,S2+ 26, al
leging conversion.
He said on the stand that he went TO
the office of Buck & Co. because he had
heard White had committed suicide by
jumping from a Staten Island ferryboat.
The report proved incorrect, although
White seems to have disappeared just as
effectively as if he had jumped into the
bay.
It was brought out that he had drawn
$1,000 on Lommelrs name, besides manip>
ulatng the latter's account
Samuel H. Wanden and Clifford c. Rob-
erts, who were counsel for the defendants,
asked Justice Greenbaum to set side the
verdict. In granting the motion the court
said that Lommell had made White his
own agent. The court also remarked OH
the long lapse of time before the plaintiff
sought an accounting from the defendants.
Justice Greenbaum said of this that it
was ''most' extraordinary circumstance
for one engaged in purely speculative
account with the defendants. whom he did
not personally know.