Duisenberg-Wichman & Co. v. Johnson

THE COURT.

The defendant H. L. Johnson appeals from an adverse money judgment in an action involving certain corporate stock transactions which took place between the plaintiff, a copartnership engaged in the stock and bond brokerage business, and defendant, who carried a purchasing and selling account with said firm.

The account was opened in May, 1928, and closed October 30, 1928. It was the business custom of said firm to retain in its possession the stock purchased for its clients and to mail the latter memoranda of purchases and sales, and a monthly statement showing, among other things,…