Supreme Court of Pennsylvania January 26, 1874 (Maxton v. Gheen)

The opinion of the court was delivered, January 26th 1874, by

Agnew, C. J.

This was not a transaction in stocks by way of margin, settlement of differences, and payment of the gain or loss, without any intention to deliver the stocks. Such transactions are-mere wagers. But here the stock was in every instance actually sold and delivered, and the transaction carried into final execution.