In re the Estate of Kiamie

Christopher C. McGrath, S,

In this discovery proceeding, the Court of Appeals (Matter of Kiamie, 309 N. Y. 325) on November 23, 1955 declared invalid a public sale of decedent’s pledged securities consisting of the stocks of four small realty corporations because the published notice of sale was defective in its description of the property. The only references or descriptions as to the stocks in the notice were the number of shares, the names of the corporations and the state of their incorporation.

The pledge agreement authorized the pledgee upon default to sell the pledged securities “ at…