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PUTNAM RESOURCES v. PATEMAN

Civ. A. Nos. 88-530B, 88-265B.

757 F.Supp. 157 (1991)

PUTNAM RESOURCES, Plaintiff, v. Ronald M. PATEMAN, et al., Defendants. Ronald M. PATEMAN, et al., Defendants, v. FRENKEL & CO., INC., Defendant.

United States District Court, D. Rhode Island.

February 22, 1991.

Attorney(s) appearing for the Case

Norman Roy Grutman, Grutman, Miller, Greenspoon & Hendler, New York City, Allen Rubine, Winograd, Shine & Zacks, P.C., Providence, R.I., for Putnam Resources, plaintiff.

James F. Campise, Marcigliano & Campise, New York City, George Vetter, Vetter & White, Providence, R.I., for Pateman, et al., defendants and third-party plaintiffs.

David P. Whitman, Hanson, Curran, Parks & Whitman, Providence, R.I., for Frenkel & Co., third-party defendant.

OPINION

FRANCIS J. BOYLE, Chief Judge.

The plaintiff, Putnam Resources, Inc. (Putnam), is a limited partnership organized in Connecticut for the purpose of dealing in precious metals. Among its customers was Sammartino, Inc., a jewelry manufacturing company located in Cranston, Rhode Island. Putnam made gold available to Sammartino under three different "programs." One of the programs involved a so called "field warehouse" located in the secure area of the...

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