by John Marshall Harlan

“ In the last-named case-which was an action to recover damages for deceit in the sale of shares of stock in a mining corporation-the supreme court of Pennsylvania said: 'The remaining question is, What is the proper measure of the plaintiff's damages? His damages should equal the loss which the deceit which the jury have found was practised upon him inflicted. The loss, in the transaction before us, is the difference between the real value of the stock at the time of the sale and the fictitious value at which the buyer was induced to purchase. ”

“ If the jury believed from the evidence that the defendant was guilty of the fraudulent and false representations alleged, and that the purchase of stock had been made in reliance thereon, then the defendant was liable to respond in such damages as naturally and proximately resulted from the fraud. ”

“ At the trial in the circuit court, the evidence in behalf of the plaintiffs being closed, the defendant moved to dismiss the complaint upon several grounds, one of which was that the contract in relation to the property in question was alone with Griffith. That motion was denied, and the defendant then introduced evidence in his behalf. The circuit court of appeals properly held that as the defendant did not rest upon the denial of his motion to dismiss, but introduced evidence, he could not assign the refusal to dismiss as error. Columbia & P. S. R. Co. ”