Unity Banking and Saving Company v. Bettman, Trustee of Holzman & Co., Bankrupts
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE SIXTH CIRCUIT. The only question to be determined in this case relates to the ownership of fifty shares of preferred stock in the Philip Carey Manufacturing Company, a corporation of Ohio. On or about May 13th, 1905, Richard Fritz, the owner of such shares, placed the certificate for them in'the hands of a member of the partnership of Holzman & Co., brokers, with or through whom Fritz had some dealings.
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APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE SIXTH CIRCUIT. The only question to be determined in this case relates to the ownership of fifty shares of preferred stock in the Philip Carey Manufacturing Company, a corporation of Ohio. On or about May 13th, 1905, Richard Fritz, the owner of such shares, placed the certificate for them in'the hands of a member of the partnership of Holzman & Co., brokers, with or through whom Fritz had some dealings. The deposit of the stock with that firm was upon an express agreement that it was to be held by them only to show Fritz’s financial…
1Opinion of the CourtJustice Harlan
Briefly outlined, the case as disclosed by the above state-, ment is thisiThe certificate of stock in the Carey Manufacturing Company was placed in the possession of Holzman & Co. under an express agreement that it should not go out of their possession, but be held simply for the purpose of showing Fritz’s financial responsibility; that Holzman & Co. had no • authority to pledge the stock with the Unity Banking and Saving Company as security for the payment of their individual note for $10,000 to that institution; that the pledging of the stock with the bank by Holzman & Co. was without…
2Cited by14 opinions
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- Boston Safe Deposit & Trust Co. v. AdamsMassachusetts Supreme Judicial Court · 1916
- McKenney v. McNearneyIdaho Supreme Court · 1967
- Martin v. CarterDistrict of Columbia Court of Appeals · 1979
- McNairy v. Estate of Baxter (In Re Baxter)District Court, District of Columbia · 2004
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