T. T. Tyree & Co. v. Sands & Co.

On the thirtieth of March, 1869, the plaintiffs, Tyree & Co., sold to the defendants, Sands & Co., iñ the city of Mobile, one hundred and twelve bales of cotton. On the thirty-first of March the plaintiffs gave to brokers who had bought it orders on the warehouse for the cotton, and it was delivered. On the day of the sale the defendants, Sands & Co., made an arrangement with the intervenors, Thomas P. Miller & Co., to sell the latter a draft for $25,000, to be drawn by Sands & Co., on Gardner, Bacon & Co., of New Tork, to which was to be attached as collateral a hill of lading for two…