Schroeder v. Hitt

On three occasions — as appears from the submission of controversy to this court in the first instance — plaintiff, an infant, directed defendants, who were stockbrokers, to purchase shares of stock during what has been described as “ a time when American stocks and other securities were selling at grossly inflated prices on all the exchanges of the world.” (Joseph v. Schatzkin, 259 N. Y. 241, 242.) The securities so purchased were delivered to plaintiff v/ho paid defendants therefor. Then came the period of declining prices and plaintiff, while still an infant and also shortly after he had…