McKee v. Hummel

PAGE, Circuit Judge.

To margin stock purchases, to be made for him by bankrupts, appellant deposited with bankrupts ten shares of bank stock. That stock, together with stocks belonging to others, was wrongfully pledged by bankrupts to secure borrowed money. After the filing of the petition in bánkruptey, appellant demanded his stock from bankrupts and the pledgee, but return was refused. The pledgee sold all of the pledged stocks, except appellant’s, and thereby satisfied the debt due from bankrupts, except a balance of $258.09. Thereafter, pledgee, on demand of the trustee in bankruptcy, sold…