Supreme Court last Fri day, before Judge Sir Peter Grain, the case was restimed in which D.
Arakie is the plaintiff in an action against C, D, Komaroff to recover Tis, 1,410.75 for an alleged breach of contract in. reference to the purchase of 3,000 Tanah Merah ahgrer. Mr, Tycho Wing appeared for the plaintif® and M Brown represented the defendant.
The defendant in the witness box stated that there was a potential arrangement between the plaintiff and himself whereby information regarding the share market would be given to him by the plaintiff and ho. (the defendant), in. return, would write articles for the news: had never been in his mind to sel? the shares because he repudiated the transaction, Mr, Wing—Why did you not sell the shares?-—It did not occur to me that T should sell, I did not have the shares.
You had bought these shires for December delivery and you are now complaining that they were not sold to you on November 8 or 9. I am asking you if it never occurred to you to sell?—Yes, Not Waiting for the Cat You were waiting to see which way the eat would jump?—No, You thought that if we carried the shares for you, and if the price would rise in December, you would take them up—you were gambling with our money?—Absolutely no.
Counsel briefly reviewed the evidence and addressed the Court, after which his Lordship reserved Judgment. paper in which the plaintiff was interested, Defendant went on to say that he had come to the conclusion that the plaintiff wax a member of a sharebrokers' association although he had not made any inquiries in regard thereto, Tips in Return for Articles Mr, Brown:—When Mr. Arakie aald that he rang you up twice offering the shares, is that correct? No, "He rang me up was about 4 o'clock in the afternoon, and in the course of the con versation, he told me that the transaction was completed. J was not surprised when he telephoned me offering the shares considering the previous conversations when Mr. Arakie had suggested that he would give me tips in return for my writing articles in his paper. 1 was not surprised when, he called ugy for T took this to be one of the tips.
Mr, Brown:—And from whom came the suggestion for this particular deal?—From Mr.
What w ened after you had in his office and of the that T would be sued for not taking up the shares, or, rather, I received tender of the script' and the statement of account, In reply to Mr. Tycho Wing in ¢ross-examination, defendant said that he had written an article for 'Mr, Arakie, but he was not quite ure on what subject. He thought it might have been on some phase of Chinese trade—on the subject of Chinese produce, In regard to the shares, he had' accepted them in good faith and had signed the confirmation note which had been sent to him.
!—It you had any doubt to whether it was a good purchase or not, why did you not ring somebody—one of your financial friends—and find out?—T had no doubt that the price represented was. the best price at which the shares could be bought on the market, T did not know he was an outside broker, T thought he was a legitimate broker.
Did you think he belonged to an association?—Yes, to the Sharebrokers' Association, I believed that and that is what T have always said.
Defendant and Plaintiff's Status
Text read from the printed page and cleaned; old type leaves the occasional error.