Selma Bridge Co. v. Harris
Supreme Court of Alabama
Appeal from Selma ’City Court. Heard before Hon. J. W. Mabry. The bill was filed by Harris against Selma Bridge Company, a corporation, Simon Maas, and L. E. Jef-fries and Emil Gilman, Jr., as assignees of the Commercial Bank of Selma.
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Appeal from Selma ’City Court. Heard before Hon. J. W. Mabry. The bill was filed by Harris against Selma Bridge Company, a corporation, Simon Maas, and L. E. Jef-fries and Emil Gilman, Jr., as assignees of the Commercial Bank of Selma. The bill and evidence showed that complainant had purchased under execution issued on a judgment in favor of the Louisville Banking Company and against Simon Maas, 'certain shares of stock in the Selma Bridge Company, standing on its books in the name of Maas, and had requested the Selma Bridge Company to transfer said stock to him on its. books and ¡to pay to…
1Opinion of the CourtMcCLELLAN, C. J.
— The certificates of the Bridge Company’s stock were originally transferred by MaaS to the Commercial Bank on the occasion of his executing a note for fl,500 to the bank for the money then borrowed, and the transfer was. in terms “to secure the payment at maturity of said note and after its payment to secure any other indebtedness” of Maas to the ■bank. This note and this transfer of the stock were made on December 3rd, 1887, and the note matured on April 4th, 1888. It cannot, we think, be 'seriously doubted that this transfer of the certificates of stock made them collateral security at…
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