Rocco v. Peoples Nat. Bk. of Ellwood

Hirt, J.,

Opinion by

In this action for damages for the conversion of stock pledged by plaintiff with defendant bank, the jury found for plaintiff. Whether the evidence supports the verdict, is the question.

Plaintiff borrowed money from the bank in 1930 and his note was renewed monthly thereafter. On January 4, 1937, the balance unpaid was $380 and plaintiff then gave his note in that amount payable February 1, 1937. Plaintiff had deposited with the bank four shares of IT. S. Steel common stock, which by the terms of each of the renewal notes became collateral security for its payment. On…