Commercial State Bank of San Augustine v. Ellington

Tbis suit was brought by tbe plaintiff in error, tbe Commercial State Bank of San Augustine, against tbe defendant in error, J. H. Ellington, on a promissory note executed by Ellington, as maker, and payable to tbe order of tbe Commercial State Guaranty Bank of San Augustine. Tbe note bears date March 10, 1925, is for tbe principal sum of $1,800; and, according to its terms, became payable September 1, 1025. No indorsement appears on the note. Tbe note recites that it “is secured by a pledge of securities mentioned on tbe reverse hereof.” No securities are noted on tbe back of tbe note. Tbe…