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SHARP PRACTICE.(KLLLBSIIAUSKN VEBSUS WALLIS.)We learn by date London papersthat Mr. Ellershausen has, we arehappy to say, just come off victorious in the couttit with one of theWhiteway tribe,\a lawyer whodeals in shares upon the Londonstock exchange. The case was triedrecently before Mr. Baron Pollockand a special jury, resulting in averdict for Mr. Ellershausen, theparticulars being neaaly us follows :In 1881 Mr. Ellershausen, beingthen the owner of a very largeproportion of the whole of the sharesof our Newfoundland ConsolidatedCopper Mining Company, and bein;tOdesirous of placing them .011 the American or English markets, employed ' Messrs. Allan Stead,brokers, in New York, for that purpose. Mr. Stead thereupon went across to London, and there enteredinto an agreement with the defendant. Wallis, who is a lawyer ofthe Whiteway cross, and who, likeour -triend Whiteway, is said to bea *■ promoter” of companies. Wallis was associated with one Gunn—thefirm, we presume being Wallis and Gnnn ; but the Gunn must havegone off, or been discharged, as wecan learn nothing more of him inconnection * with the little gameAt all events arrangements were made with Wallis by Stead fortplacing the shares on the Londonmarket, and as the work of disposing of them did not appear to goontoo briskly, Mr. EllershausenIthought the best thing he could do\yas to go across to London hi nisei**,and endeavor to hurry things up alittle. Consequently, Mr. Ellershausen went over to England, andwas at once introduced bv Mr.Stead to allis ; and iindiig thatthings were not progressing very satisfactorily, Ellershausen thoughtIF ' * . *it better to take things into his o\\nhands; this was not accomhowever, until after Wallissucceeded' in exchanging two promissory notes of his own for £2,950of Mr. Ellershausen’s valuablecash, which the former needed tomeet a pressing private claim. 111the meantime, it appears, Wallishad disposed of only about six hundred and forty-four of the shares when be waived bis right, as be says, under his agreement withAllan Stead, to allow Mr. Ellershausen to deal independently withares in question. For- thiswaiving- of his right and' certainpromises alleged to have oeenmade to him by Mr. Ellershausen, Wallis finally Remanded the nice little sum of £15.-000'from Mr. Ellershausen, whichthe latter totally ignored. Mr. Ellershausen was consequently compelled to take proceedings against Wallis for recovery of th amountof the notes, the jury finding forthe plaintiff in his claim for thenotes, £2,950, without interest, butdeducting therefrom the sum of£960, being the amount couuter-claimed by , Wallis as commissionupon the sale of six hundred and*forty-four £10 shares, at thirty shirty shillings per share, and for which he had obtained subscriptionbu,t without/costs. \' 7 At :V\ * ; ' ‘
Newspaper Details
Saint Johns Our Country
Saint Johns, Newfoundland, CA
Sat, Jan 12, 1884
Page 4
Full Page
Clipped by
Martha S.
USA 29 Mar 2021
Other Publications Near Saint Johns, Newfoundland
Saint Johns Daily Tribune
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