Drake-Jones Co. v. Drogseth

HILTON, Justice.

Appeal from an order denying plaintiff’s alternative motion for judgment notwithstanding the verdict or for a new trial.

Plaintiff is a stock brokerage concern. The transaction hereinafter referred to was conducted for it by its vice president, A. M. Drake. It involved the purchase by plaintiff of 50 shares of the capital stock of the First Bank Stock Corporation for $2,787.50 under an order given therefor by defendant, who later refused to take the stock as tendered. Plaintiff sold the stock on May 19, 1931, for $975 ($19.50 per share) with a resulting net loss of $2,011.25.…