Irving Trust Co. v. Rose

SOPER, Circuit Judge.

This action at law was brought in the District Court by the .trustee in bankruptcy of a firm of New York stockbrokers, as plaintiff, to recover from a customer a balance due the firm when the petition in bankruptcy was filed. Pleas were filed by the customer, as defendant, denying liability on the ground that the account had been paid through the enforcement of a lien held by the firm upon certain securities deposited with it by a guarantor. A demurrer to these pleas was overruled. Thereupon the plaintiff filed replications alleging that the guarantor was also a customer…