Osborn v. Koenigheim

Stayton, Associate Justice.

On the 25th day of April, 1879, the appellee loaned to Michael Bros. $4,400, for which they executed to him their promissory notes, due four months after date, and to secure the same pledged to him forty-nine barrels and ten half-barrels of whisky which they then had stored in the warehouse of Berg & Bro. They also empowered him to sell the property pledged, in case of their- failure to pay the notes at maturity, and to apply the proceeds in payment of the debt.

Michael Bros, held the warehouse receipt of Berg & Bro., which at the time of the loan they indorsed as…