Shultz v. Manufacturers & Traders Trust Co.

The plaintiffs were stockholders of Houde Engineering Corporation. Defendant is a bank. Each plaintiff started an action against defendant, asking damages for breach of a contract of agency or brokerage. The actions were consolidated and tried. At the close of plaintiffs’ proofs, the court granted defendant’s motion for a nonsuit, and dismissal of the complaints upon the merits.

It is the claim of plaintiffs that defendant, acting through a partnership known as Krauss & Company, composed of various of its junior officers, and which, when nominated by the bank, handled transactions of the sort…