Phillips v. Citizens' Nat. Bank

The Citizens’ National Bank of Waco sued the Shear Company, and that company impleaded T. C. Phillips and Mrs. Nellie L. Wilson. The suit involved the right to certificate No. 16 for 25 shares of the capital stock of the Shear Company, which had been issued to C. W. Wilson and by Wilson pledged to T. C. Phillips to secure a loan of $5,000 and thereafter again pledged to the Citizens’ National Bank to secure a loan of $4,000; Mrs. Wilson claiming the shares of stock as her separate property as having been issued in lieu of old certificate No. 112 for shares of stock in the Rotan Grocery…