Henry Heymann Building & Loan Ass'n v. Denney

Opinion by

Parker, J.,

The main question involved in this appeal is whether a loan made by the defendant, William P. Denney, from the Henry Heymann Building and Loan Association was liquidated by the maturing of installment stock in that association pledged as collateral for the repayment of the loan.

In 1929 the defendant borrowed from the plaintiff $8,000, evidenced by judgment bonds of $3,000 and $5,000 and pledged as collateral installment stock standing in the name of defendant and intended to have a matured value of $12,000 or $200 per share. On September 9, 1935, plaintiff caused…