Palmer v. Parmele

Sedgwiük, J.

In the early part of 1910 the defendant sold to William Volk for $15,000 gold coupon bonds of $10,000 face value and preferred stock of $5,000 face value in the Norfolk Long Distance Telephone Company of Norfolk, Nebraska. Volk left this stock with Parmele for safe-keeping, and took Mr. Parmele’s receipt reciting that fact, in which it is also agreed that the stock should remain in the Bank of Commerce, of Louisville, Nebraska, in which the defendant was interested, for the term of five years, “and the income to be- paid over to William Volk as paid.” After Mr. Volk’s death this…