Townsend-Whelen & Co. v. Craig

Smith, J.,

This is a rule for judgment for want of a sufficient affidavit of defense.

On Dec. 17,1927, the defendant instructed his agent, Provident Trust Company of Philadelphia, to sell for his account ten shares of stock, par value $25, of the Continental Insurance Company, at market. On the same day, Provident Trust Company instructed the plaintiffs, Townsend-Whelen & Co., licensed stockbrokers of Philadelphia, to sell these shares. The Continental Insurance Company was listed on the New York Stock Exchange. On the same day, the plaintiffs instructed their New York correspondent to sell…