Barbara v. Pasquale Avallone & Stefano Miele, Inc.

The plaintiffs, being separately the owners of certain securities consisting of bonds or certificates of deposit of a bank in Italy, on August 3, 1934, delivered the securities to a banking corporation known as Pasquale Avallone & Stefano Miele, Inc., which was engaged in the business of accepting commitments from customers to transfer funds between this country and Italy and other European countries. The instructions given to the corporation by the plaintiffs were that these securities should be collected and the proceeds deposited to their credit in the Postal Savings Bank at Rome, Italy.…