retrieve it by using his own money in other speculations for that purpose and remitted to principal a large amount and allowed the principal to regard the same as proceeds of investment of latter's money. It was held that the conduct of the agent broker did not estop him from showing the truth as to the condition of the account with the principal. The position of the principal was in no ways prejudiced by agent's conduct. The money was gone and the agent's stricken conscience could not bring it back nor make the agent responsible for the loss. The time comes in all games when the players want to play quits. There is a quit ting before the gambling transactions are settled, when all debts of honor may be re pudiated, which if done will ostracize you for all timé to come from the society of gen tlemen we have been speaking of. Or there may be a settlement and quitting afterwards. Gentlemen love those who never squeal, who will lose all they have in the world and then go out and shoot themselves rather than peach or repudiate their debts of honor. It has been held that where the profits of a gam bling operation have been paid over by the broker to his customer and accounts are set tled but the amount of the original margin is left in the hands of the broker for future operations, the customer may recover the margin on an action against the broker and the latter cannot set up the illegal character of the previous transaction in defence there to. Debts of honor have all the legal protec tion that is thrown around criminals. A thief is presumed to be innocent and the burden of proving guilt beyond a reasonable
doubt is upon the people. So the burden of proof of establishing the illegality of a gam bling transaction rests upon the party who asserts it and that construction is to be pre ferred which will support the contract rather than the one which will avoid it. The part juries take in these questions is the guessing, guessing whether or not they are wagering contracts. The pay of the piper, or in other words, the commission of the broker, is a very un certain element in stock gambling transac tions. It is true that a broker might ne gotiate a gambling contract without being privy to the illegal intent of the principal parties to it, at least a certain judge was of this opinion, and in such a case being inno cent -of any violation of law and not suing to enforce an unlawful contract, has a meri torious ground for the recovery of compensa tion for services and advances. When, how ever, the broker is privy to the unlawful de sign of the parties and brings them together for the very purpose of entering into an il legal agreement, he is particeps criminis and cannot recover for services rendered or losses incurred by himself or on behalf of either of the parties to it in fonvarding the transaction. When the difficulties of stock gambling are considered one marvels at the chances taken, for every margin put up as margin is beyond recovery. You have to place abso lute faith in your broker, put up new margin s as frequently as he wires for them and when you come out ahead of the game, it is well to thank your stars that you fell into com pany possessing that queer sense of honor that enters into debts of honor.
