Steele v. Link

HAROLD B. SPAET, Circuit Judge.

This cause came on to be heard on the plaintiff’s motion to dismiss counterclaim. Having heard argument of counsel and having carefully examined the authorities cited by both parties, the court is of the opinion that the counterclaim fails to state a cause of action.

In this suit by a payee of a collateral note against the defendant-executrix of the estate of the maker of the note, in which the plaintiff-payee seeks to foreclose a pledgee’s lien on certain stock deposited as collateral for the note, the defendant-executrix filed a counterclaim alleging that she,…