Sartorious v. Cohen

This is an action brought by the plaintiffs, a firm of stockbrokers, against its customer, the defendant Louis P. Glass, and other defendants, who are stockbrokers, to declare the rights and liabilities of the parties in reference to a brokerage transaction, initiated by the defendant Louis P. Glass.

The defendant Glass had an account with the plaintiffs, through whom he frequently bought and sold securities and commodities. The books of the plaintiffs’ firm, on November 9, 1925, showed that Glass was “ long ” twenty thousand bushels of December old wheat. On that day Glass told the defendants…