McGaw v. Canal Bank & Trust Co.

The plaintiff, William H. McGaw, purchased from time to time certain blocks of shares of the capital stock of the Marine Bank & Trust Company, of New Orleans. As a result of these purchases, plaintiff was the owner on January 24, 1927, of 200 shares of said stock at a total cost to him of $37,177.89. On that date, plaintiff deposited his stock certificates with the Marine Bank & Trust Company, through its trust department. The certificates were unindorsed, and were unaccompanied by any power of attorney. In the receipt executed by the bank the deposit was acknowledged and was stated to be…