Fowler v. New York Gold Exchange Bank
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department affirming a judgment in favor of plaintiffs, entered upon the report of a referee. (Reported below, 6 Hun, 186.) This action was .brought to recover $76,025 currency alleged to have been received by defendant as the purchase-price of $50,000 of gold sold and delivered by it as agent of plaintiffs.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department affirming a judgment in favor of plaintiffs, entered upon the report of a referee. (Reported below, 6 Hun, 186.) This action was .brought to recover $76,025 currency alleged to have been received by defendant as the purchase-price of $50,000 of gold sold and delivered by it as agent of plaintiffs. On the 23d of September, 1869, James Brown & Co., who were gold and exchange brokers in the city of New York, for and on behalf of the plaintiffs, agreed to sell and deliver $50,000 in gold coin to Chase,…
1Opinion of the CourtAllen, J.
The defendant in this and similar transactions was but the common agent of the dealers in gold by whom it was employed in the settlement of their contracts by effecting an exchange of gold for currency between the parties. As the agent of the seller of the gold, it received from him the gold sold and delivered it to the buyer for whom it had received it, receiving in turn from him the currency and paying it to the seller for whom it was received. Notwithstanding the multifarious transactions of each day and the number of individuals and firms concerned, the result of all the transactions…
2Cases cited3 opinions
- Crans v. . HunterNew York Court of Appeals · 1863
- Peabody v. . SpeyersNew York Court of Appeals · 1874
- Cameron v. . DurkheimNew York Court of Appeals · 1874
3Cited by5 opinions
- Tallman v. KimballNew York Supreme Court · 1893
- Herman v. LelandCity of New York Municipal Court · 1913
- National City Bank v. New York Gold Exchange BankNew York Court of Appeals · 1886
- Burby v. RoomeNew York Court of Common Pleas · 1894
- Ryder v. SistareNew York Court of Common Pleas · 1888