AN INTERESTING APPEAL.

Wairarapa Age, Volume XXXII, Issue 10120, 15 October 1910, Page 5

AN INTERESTING APPEAL.

(By Telesjrapn—Press Association.') WELLINGTON, Last Night.

The Appeal Court (all the Judges being present) sat this morning to hear the case Gualter, Dykes and Co. v. Bebb, an appeal from the judgment of a magistrate. The case is of unusual interest to shareholders, as it turns upon the construction of Sections 183, 135, 139, and 111 of .the Stamp Duties Act, 1908, containing provision relating to shares in mining companies • and the necessity for stamped contract notes in such cases. --u plaintiffs carried out many share transactions for defendant, and for the purpose of such transactions advanced monies and debited such advances in their books to defendant's account. Some dispute arose, and it became necessary for the plaintiff's to sue for their commission. ' The magistrate found a stamped contract note had not been given and this prevented the plaintiffs recovering commission, brokerage, and also balance of account. The plaintiffs now appeal, against the decision. Later. In the case Gualter, Dykes and Co. v. Begg, Mr. Skerrett, K.C., for the appellants, submitted that as the transactions had been completed and the respondent had had the benefit of the contract, the appellants were entitled to tne payment of the money advanced for the purchase of shares, although not on' the commission and brokerage. Mr. H. D. Bell, K.C., contended there was no difference between the contract that was void and unforceable and the illegal contract, and therefore the appellants could not recover. The object of requiring stamped contract notes, both from the buyer and the seller, was to make up for the stamp duty which would otherwise be charged upon the ] transfers, as in all cases in respect I to transfer of mining shares. The case was unfinished to-day. I