Fullerton v. . Nat'l B. T. Ins. Co.

The facts are simple. On the 26th of October, 1877, the insurance company owned two bonds and mortgages, one for $12,000 of principal, made by C., the other of $92,000, by K., both bearing interest and not then due. On that day, by separate instruments, it transferred them "together with all its right, title and interest in and to said bonds and mortgages, and all moneys due and to become due thereon for principal, and to the premises described therein, because of said mortgages," to the trust company, to be held and retained by it as a security for the holders of policies in the insurance…