Capital Nat. Bank v. Fourth Nat. Bank

The trial court overruled appellant’s demurrer to appellee’s bill, and this appeal followed.

To state the facts in outline: The bill avers that Hall and Beale, partners engaged in the cotton business, had pledged to ap-pellee 450 shares of the capital stock of the Montgomery Cotton Manufacturing Company to secure an indebtedness. November 10, 1920, appellee, as it had the right to do under its contract, demanded additional security, whereupon 1-Iall and Beale pledged 180 additional shares of the Manufacturing Company’s stock. Thereafter, on the same day, Hall proposed to appellee to let him…