BRYAN, Circuit Judge.
This is a suit by a firm of cotton brokers, members of the New Orleans Cotton Exchange, for advances which they claim they made for the account of the defendant in executing his orders on the exchange for the purchase and sale of cotton for future delivery. The defense was that, at the time the orders were given, the parties did not intend that the cotton should be paid for and delivered, but only intended that one party should pay to the other...
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