“ ‘P purchases an option on Blackaire and authorizes A to sell it. Two hours before the expiration of the option and while A is in the process of executing a sale of it to T, P dies. A’s authority is terminated.
“ ‘P employs H, a stockbroker, to purchase at the market 10,000 shares of stock in A’s name but for P’s account. P dies, this being unknown to anyone. A few moments thereafter, A purchases the shares. A had no authority to purchase.’ ”
Ganten blinked his eyes rapidly, his only outward symptom of nervousness, but he avoided glancing in the direction of his client.
Once more the door was pushed open, and a short, thick-set, genial individual in the early fifties pushed his way into the room. “Good morning, Mr. Loftus,” he said. “Good morning,” and walked across the office to grasp Loftus’ hand and pump it up and down. Then he turned to include the other two occupants of the room with his genial smile.
“Mr. Ganten of my legal department,” Loftus introduced, “and Mr. Perry Mason who is trying to upset that fifty-thousand-dollar sale of Western Prospecting stock… Gentlemen, this is Mr. Emery B. Bolus, the president of the Western Prospecting Company.”
Bolus remained genial. He shook hands with Ganten, and then grasped Mason’s hand cordially. “Glad to meet you gentlemen,” he said. “What’s this about upsetting that sale? The sale has already been completed. The transaction, so far as our company is concerned, is closed.”
“Stock transfer been duly entered on the books?” Mason asked.
Bolus hesitated a minute, then said, “Yes.”
“Don’t answer his questions,” Ganten said after a moment. “I’ll do the talking. Your interests and those of my client are identical, Mr. Bolus.”
Mason said, “Rather a damaging admission coming from an attorney who has specialized in the law of agency and of contracts, Mr. Ganten… I don’t want to suggest how you should conduct your office, but if your investigation should disclose that the facts are as I contend, then it would be very much to the interest of your clients to help me impound that fifty thousand dollars until the validity of the transaction can be determined. Otherwise, any judgment which we might recover would leave your clients holding the bag. If we’re going to get judgment, it’s to your interest to see that it’s paid with that fifty thousand dollars Bolus is holding, instead of fifty thousand your clients will have to dig up out of their own pockets.”