Teasdale v. McPike

25 Mo. App. 341, 1887 Mo. App. LEXIS 316
CourtMissouri Court of Appeals
DecidedApril 5, 1887
StatusPublished
Cited by4 cases

This text of 25 Mo. App. 341 (Teasdale v. McPike) is published on Counsel Stack Legal Research, covering Missouri Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Teasdale v. McPike, 25 Mo. App. 341, 1887 Mo. App. LEXIS 316 (Mo. Ct. App. 1887).

Opinion

.Rombaubr, J.,

delivered the opinion of the court.

This is an action to recover $681.25, claimed to be due by the defendant to the plaintiffs, for money advanced in the purchase of wheat, including their commissions.

The petition states, in substance, that the plaintiffs are commission merchants in the city of St. Louis; that on August 3,1885, they bought, upon the defendant’s request and on his account, ten thousand bushels of wheat, paying therefor, inclusive of their commissions, $10,343.75; that wheat thereafter declined in price in the St. Louis market, and it became necessary for the defendant to advance certain sums of money to secure the plaintiffs from loss, on account of moneys advanced by them in the original purchase; that they demanded from the defendant, at various times, a deposit to secure them from loss, and the defendant, refusing to comply with their demand, or to respond thereto in any manner, they sold the wheat on his account August 15, 1885, for $9,652.50, and rendered the defendant an account, showing the balance sued for as due to them.

The defendant denied each and every allegation in the petition; and, further answering,' stated that, on the third day of August, 1885, he requested the plaintiffs to purchase ten thousand bushels of September wheat, in words and figures as follows, to-wit:

“Bowling Green, Mo., August 3, 1885.
“J. H. Teasdale & Company, St. Louis, Mo.
“Buy ten thousand Sept, wheat, and sell at three-fourths advance.
“W. B. McPike.”

[343]*343That the plaintiffs failed and refused to buy September wheat, but bought October wheat, which the defendant did not want, and did not authorize.

The defendant, further answering, said that the whole of said sale was an option sale; that he ordered the plaintiffs to buy ten thousand bushels of September wheat, for future speculation; that not a bushel of said wheat was delivered, and it was never expected, intended, or desired, by either the plaintiffs or the defendant, that any such wheat should ever be delivered ; that said transaction was an option deal, and the debt, to enforce which this suit is instituted, is a gambling debt, absolutely void, and against public policy.

To this answer the plaintiffs replied as follows:

“The plaintiffs deny each and every allegation in the answer not in the reply admitted to be true.
“And, further replying, say that it is true, that, on the third of August, 1885, the defendant ordered the plaintiffs by wire to buy ten thousand bushels of September wheat; that it was not a suitable or favorable time to buy September wheat, and, acting in good faith and for the best interests of the defendant, they purchased ten thousand bushels of October wheat, that is, wheat to be delivered in the month of October, at 103-i- and at 103-j-, and immediately notified the defendant of that fact, and that they would change it to September, if the defendant preferred. The defendant made no objection to said purchase of October wheat, but, on the contrary, acquiesced in, consented to, and ratified said purchase, and made no objection for a long time thereafter, and until wheat had declined in price.”

It is necessary to set out the pleadings fully, in order to show the bearing of the instructions, and to determine whether the plaintiffs’ complaint is just, that the court misdirected the jury, and thereby led them to find a verdict for the defendant.

The plaintiffs gave evidence tending to support every fact stated in their petition and reply.

[344]*344It appeared, among other things, that, on August 3, 1885, the defendant wired to the plaintiffs the following message:

“ Bowling Green, Mo , August 3, 1885.
To J. H. Teasdale <& Go., Si. Louis, Mo.
“Buy ten Sept, wheat, and sell at three-fourths advance. W. B. McPike.”

To this message the plaintiffs replied by wire on the same day:

“To W. B. MoPilce.
“Bought ten Oct. at three and one-eighth and quarter, instead of Sept. If you prefer the Sept., will change. J. H. Teasdale & Co.”

The plaintiffs, on the same day, also wrote to the defendant, advising him in detail of their reasons for buying the wheat for October, instead of September, delivery. The defendant admitted the receipt of both telegram and letter, and, upon the trial, stated as his only excuse for not replying to either, that it was none of his business. .

Matters remained in this state until August 13, wheat steadily declining in price. On that day the defendant wrote to the plaintiffs, without making mention of this transaction. To this letter the plaintiffs replied, and again offeród to change the purchase from October to September delivery, if the defendant so desired. Thereupon the defendant addressed to the plaintiffs the following letter:

“Bowling Green, Mo., Aug. 14, 1885.
“Messrs. J. H. Teasdale & Go., SI. Louis, Mo.
Sirs : August 3d instant, I sent you a positive order to buy ten M. Sept, wheat, but you failed to comply with m'y order, therefore, I owe you nothing but good will. Had you complied with my order, it would have been better for me and none the worse for you.
“Yours, etc.
“W. B. McPike.”

[345]*345To which the plaintiffs replied by wire at once:

“We are holding ten thousand October wheat your account. Unless five hundred dollars is deposited for our account, by twelve o’clock, will sell and hold you for loss. Tour position is preposterous.
“J. H. T. & Co.”

Receiving no reply whatever to this message, the plaintiffs, on the fifteenth of August, sold the wheat on the defendant’s account for the best price obtainable. There was evidence tending to show, that they were authorized to do this by the rules of trade in this market, and that the defendant was familiar with such rules.

The defendant gave evidence tending to show, inferentially, that the plaintiffs had been engaged formerly in buying grain options for him. He was permitted to state, against the objections of the plaintiffs, that he was familiar with the customs of option deals in St. Louis, and that it was always understood, in such transactions, that no grain, in point of fact, was to be delivered, but that the difference in price was to be settled in money.

The plaintiffs requested the court to charge the jury as follows:

“1. The court instructs the jury that it is admitted in this case that the defendant instructed the plaintiffs to buy for him ten thousand bushels of wheat, for September delivery, 1885, and that the plaintiffs bought for him ten thousand bushels of wheat to be delivered in the month of October, instead of the month of September, and immediately notified the defendant of that fact by a telegram, ¿nd telling him, if he still preferred September, they would change it for-him.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

St. Louis Gunning Advertising Co. v. Wanamaker & Brown
90 S.W. 737 (Missouri Court of Appeals, 1905)
Mulford v. Cæsar
53 Mo. App. 263 (Missouri Court of Appeals, 1893)
Taylor v. Penquite
35 Mo. App. 389 (Missouri Court of Appeals, 1889)
Jones v. Shale
34 Mo. App. 302 (Missouri Court of Appeals, 1889)

Cite This Page — Counsel Stack

Bluebook (online)
25 Mo. App. 341, 1887 Mo. App. LEXIS 316, Counsel Stack Legal Research, https://law.counselstack.com/opinion/teasdale-v-mcpike-moctapp-1887.