Gouert v. Mechanics & Metals National Bank

In February, 1910, the defendantsStoppani & Hotchkin executed a general collateral agreement with the defendant the Mechanics and Metals National Bank whereby the said firm agreed from time to time to deposit certain securities as- collateral for loans to be made to them by the bank. The firm from time to time borrowed certain sums, of money and deposited certain bonds and stocks as collateral security. On the 18th day of May, 1914, the firm of Stoppani & Hotchkin failed, and made a general assignment to Abraham S. Gilbert for the benefit of their creditors, and at which time they were…