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BLUNT, ELLIS & LOEWI, INC. v. IGRAM

No. 65899.

319 N.W.2d 189 (1982)

BLUNT, ELLIS & LOEWI, INCORPORATED, a Corporation, Appellee, v. Charles IGRAM, Appellant.

Supreme Court of Iowa.

May 19, 1982.

Attorney(s) appearing for the Case

Max Putnam, Des Moines, and R. Fred Dumbaugh, Cedar Rapids, for appellant.

Thomas P. Ward, Chicago, Ill., and James F. Pickens of Pickens, Barnes & Abernathy, Cedar Rapids, for appellee.

Considered by LeGRAND, P. J., and McCORMICK, ALLBEE, McGIVERIN, and LARSON, JJ.

ALLBEE, Justice.

This litigation arises from a dispute growing out of substantial losses sustained by defendant Charles Igram in the commodities futures market. Igram has appealed from judgment against him awarding plaintiff Blunt, Ellis & Loewi, Incorporated (BEL), the sum of $137,542. That sum represents the deficit balance in Igram's commodity account when BEL unilaterally closed the account on August 6, 1979, after five of Igram's checks in the aggregate of...

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