Faivret v. First Nat. Bank in Richmond

GARRECHT, Circuit Judge.

Robert Faivret brought an action for conversion of certain merchandise held by the defendant Bank as pledgee. The case was tried without a jury. In its memorandum opinion the trial court found as facts that plaintiff entered into arrangements with defendant for financing a merchandise jobber business to be conducted by plaintiff in San Francisco. Under the plan, merchandise purchased by Faivret was to be placed in a field warehouse established on his premises and warehouse receipts covering the same were to be issued to the Bank. The Bank would then lend up to 85 per…