Weil & Gatling v. Caddel & Jacobs

TEEHEE, C.

Plaintiff in error, Weil & Gatling, plaintiff below, sued defendant in error, Caddel & Jacobs, defendant below, to recover on a brokerage contract whereunder plaintiff made purchases and sales of what are termed in trade parlance as cotton contracts, which were negotiated on the New Orleans Cotton Exchange.

The relationship of the parties arose by virtue of several letters and telegrams which were in due form by plaintiff pleaded. The transactions were conducted on the basis of ]00 bales per cotton contract for future delivery, subject to the rules of the cotton exchange and to law.…