Hammond v. Crawford

• Decision Date: 05 March 1895
• Citation: 66 F. 425
• Parties: HAMMOND v. CRAWFORD.
• Court: U.S. Court of Appeals — Second Circuit

66 F. 425

HAMMOND v. CRAWFORD.

United States Court of Appeals, Second Circuit.

March 5, 1895

Charles H. Brush, for plaintiff in error.

Hugh L Cole, for defendant in error.

Before BROWN, Circuit Justice, and LACOMBE and SHIPMAN, Circuit judges.

LACOMBE Circuit Judge.

This is an action upon a written contract in the words and figures following:

'N.Y July 15, 1891.

'The understanding I have with W. J. Hammond, Jr., is as follows: That in case I effect a sale or deal of the Confidence group of mines situated in Socorro county, New Mexico, through the introduction, by said Hammond, of A. F. Sortwell or his associates, I am to pay said Hammond from the sale of stock of the Confidence Mining Company, which I am to sell at par, $25,000 in cash, and am also to assign to W. J. Hammond, Sr., $25,000 of the aforesaid mining stock, and, in addition to the above, I am to pay over to said Hammond, Jr., $25,000 in cash, and am to assign to said Hammond, Jr., or whom he may direct, $25,500 of the aforesaid mentioned mining stock.

'George Crawford.'

The plaintiff contended that he performed the services required of him, and, alleging that the stock of the said company was worth $25 per share (the par value being $5), demanded judgment for $302,500. He sought to prove performance by showing that through his procurement Sortwell entered into an agreement with defendant containing the following provisions viz.: That Crawford was to cause to be organized a corporation under the laws of New Jersey, and to convey to such corporation, by a good and sufficient warranty deed, the mining property known as the 'Confidence Group of Mines,' situated in the county of Socorro, N.M., the said deed and other evidences of title to the said property to be approved by counsel learned in the law, nominated by Sortwell; that the capital should be $500,000 in 100,000 shares at $5 a share, and that Crawford should deliver to Sortwell 45,000 full-paid shares; that Sortwell, upon delivery of said deed and of the certificate of incorporation, should pay to Crawford personally $125,000 and to George Crawford, as treasurer of the company, $100,000; that Crawford, on receipt of the $125,000, should erect a stamping mill of a designated capacity, and turn the same over to the company; that the incorporation of the said company and the payment of the purchase money for the 45,000 shares should be consummated on or before October 1, 1891; and that 'the charter of the aforesaid corporation and the by-laws of the same (shall) be mutually satisfactory to the parties to this contract. ' The date of consummation of this Crawford-Sortwell agreement was extended by mutual consent until January 4, 1892. On that day Crawford offered a deed from...