Bundy v. Security Bank & Trust Co.

This case was tried by the court on an argeed statement of facts. It was stipulated that one Humphries, on August 25, 1927, executed a chattel mortgage to the defendant bank to secure the sum of $4,000, which was on that date filed with the county clerk, covering a stock of merchandise, including boots, shoes, and shoe findings located in Humphries place of business; that the shoes and shoe findings were sold to the retail trade and the stock of merchandise was replenished with new stock from various sources, and the defendant bank did not have possession of the stock, nor did it require an…