First National Bank v. Booth

The First National Bank of Taos brought suit against Booth on promissory notes to the amount of $4,500 or so and interest. He answered admitting the notes but, by way of counterclaim, alleged the conversion, by the bank, of a certain note of the Calvert Cattle Company to one S. P. Calvert, for $9,250, indorsed by the latter, which Booth claimed was so indorsed as collateral for a note of $10,000 from Calvert to him. The verdict was for defendant for $2,086, and on the. judgment thereon plaintiff brings error.

The plaintiff claims that the counterclaim states no cause of action. This claim…