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Show KKFEKEK ( I.KVtLAMI OVKKItl l.fcll. .lu.l.-t oirS. U Ail do liu Kasayand ttuda t or the Other Side. New Yui;k, July 2. Siiico Growr Cleveland has bos a practicing law iu William street his professional npcar-ances npcar-ances before tho puldio have been wholly in tho capacity of referee in suits of law. His decision iu tho case of l'helps against Vcuuer was telegraphed tele-graphed over tho country at considerable consider-able length. In (ieorge 1?. l'helps conlraoted with Clarvneo H. Venner, a stock broker, to sell 100 bonds of a certain railroad at not less than ttO. Mr. You-nor, You-nor, aeeordiiur to Mr. Phelps, got tho price reduced to tiTJ. and the very next day sold scvetitv-tive of the bonds al 00. The re.s.;-iio exchanged for other bonds, and be paid Mr. Phelps 1171 for tho lot. Mr. l'helps sued for tho difference, the whole amount with interest being $;!0,000. Mr. Venner' a defence was that he did not sell the bonds on commission com-mission its a broker, but bought them outright at tiTJ. Mr. Cleveland tiled his report at Utiea and Walorlown on November last, lie found for Mr. l'helps on every question of fact involved, llo refused to allow Mr. Vernier lo retain any commissions, com-missions, because, ho said, Mr. Vernier had violated his duties as agent of the plaintiff. Ho discussed tho duties of stockbrokers toward their clients at groat length and with groat wisdom, and found evidences of Mr. Vernier's intent to cheat and defraud Mr. l'helps. The press despatch which carried tins, news to a waiting world, added: "If t'iis report is to stand as law- on this fuse, brokers can hereafter bo held to tho strictest fidelity to their clients." Therefore, of course, they couldn't have been. Judge Coxe of tho United States Circuit Cir-cuit Court, hitting at Ctiea, set aside Mr. Cleveland's report yesterday. Mr. Vernier's couuscl, Mr. Meb'illo Kj;les-ton, Kj;les-ton, got tho news by telegram. Tho ordor setting asido the report exonerates exoner-ates Mr. Von nor from any charge or imputation of fraud or of violation of duty as an agent of Mr. l'helps, and allows al-lows Mr. Venner his comuiissiou, which Keferoo Cleveland denied him. |