Gerrard (instructed by, J. Chapman and Ca.), for the 3 E. G. Hemmerde K.C. with Mr. R. S. Trotter (instructed by Alfred Bieber and: Bieber), for the defendant.
Opening the counter-claim, Mr Hemmerde said that in December. 1936, Topalian rang up Wilde-Rice and suggested he should buy on his behalf 100° bales of cotton on which Wilde-
Rice was certain to make a profit of €5^ within a fortnight. Wilde-Rice eventually agreed to the sugges and a profit of £26 2s. 6d. was made on the deal. Of that amount Topalian retained £15 towards a betting loss of £50 incurred by Wilde-Rice and a friend. On March 3 Wil ice gave Topalian a letter of authority buy and sell cotton in his name, the arrangement being that half the profits should be deducted until gambling debt was paid off. Th: was paid oil about the end of March. and from that time no profits were made by Wilde-Rice, the transactions being one long succession of losses Thefe were transactions in wheat well as cotton, but most of the los re in connection with cotton.
Text read from the printed page and cleaned; old type leaves the occasional error.