Case Name: PEABODY v. GILBERT
Court: United States Circuit Court for the Southern District of New York
Jurisdiction: United States
Decision Date: 1866-07-14
Citations: 19 F. Cas. 39
Docket Number: 
Parties: PEABODY v. GILBERT.
Judges: 
Reporter: Federal Cases
Volume: 19
Pages: 39–39

Head Matter:
Case No. 10,868.
PEABODY v. GILBERT.
[5 Blatchf. 334, note.]
Circuit Court, S. D. New York.
July 14, 1866.
Definition of “Broker” — Broker’s Tax.
[This was an action by Augustus L. Peabody and others against Sylvester C. Gilbert and Sheridan Shook.]

Opinion:
NELSON, Circuit Justice.
The opinion in the case of Clark v. Gilbert [Case No. 2,822] disposes of this case. The plaintiffs are banker's, and do business as such, by receiving stocks, bonds, &c., for sale, and by lending and advancing money on stocks, bonds, &c., and in default of repayment, sell the same, and, also, purchase and sell stocks, bonds, &c., on their own account, and not on commission, or for others. They also purchase and sell stocks, bonds, &c., for others, under certain stipulations as to risk, losses, and profits, which is the business of a broker, and the sales are subject to the broker's tax.
[In 5 Blatchf. 334, this case is published as a note to Clark v. Gilbert, Case No. 2,822.]