Englert v. First Nat. Bank at Pbgh.

Opinión by

Me. Justice Linn,

The appeal at No. 47 is from a decree setting aside a sale of collateral made by defendant bank to itself. The appellee-plaintiff * has fairly stated the question for review: “Did the acts of the pledgee bank, as shown by the evidence, by which it claims that it acquired absolute title to the pledged securities, constitute a ‘private sale’ of the securities within the meaning of the collateral note?”

April 1, 1932, defendant loaned Milton S. Englert $120,000 on his collateral demand note. The security consisted of stocks and bonds delivered to defendant in…