International Stevedoring Co. v. Frank Waterhouse & Co.

This is an action in equity to foreclose an alleged pledge, made by defendant Frank Water-house & Company to the plaintiffs, of all of the capital stock of the Seattle Taxicab Company to secure an indebtedness of $25,000, and interest, to the International Stevedoring Company; and an indebtedness of $31,000, and interest, to the Seattle & Globe Investment Company.

From a decree granting the relief prayed for, the defendant William T. Laube, as trustee in bankruptcy of Frank Waterhouse and Company, has appealed.

Appellant here presents and relies upon but two questions: (1) That the adverse…