Connelly v. Glenny

Defendants are stockbrokers. On August 28, 1929, acting as agents and brokers for-the plaintiff, they purchased for him on the Buffalo Exchange fifteen shares of the capital stock of the Marine Union Investors, Inc. Within a few days thereafter the stock was delivered at the office of the defendants, and they charged against a balance which they were owing the plaintiff the amount which they had paid for this stock. The certificate stood in a “ street name,” but was indorsed by the broker to whom it had been issued, and his signature was guaranteed, so that a transfer could have been made to…