Assigned Estate of L. H. Taylor & Co.
Supreme Court of Pennsylvania
Appeal, No. 21, Jan. T., 1899, by Harry J. Lex, from order of C. P. No. 1, Phila. Co., Dec. T., 1895, No. 556, dismissing exceptions to auditor’s report. Exceptions to auditor’s report. The auditor, Francis Shunt Brown, Esq., reported as follows : Harry J. Lex claimed $6,242.22. His transactions from April 21,1893, to the time of the assignment covered five pages of L. H. Taylor & Company’s ledger.
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Appeal, No. 21, Jan. T., 1899, by Harry J. Lex, from order of C. P. No. 1, Phila. Co., Dec. T., 1895, No. 556, dismissing exceptions to auditor’s report. Exceptions to auditor’s report. The auditor, Francis Shunt Brown, Esq., reported as follows : Harry J. Lex claimed $6,242.22. His transactions from April 21,1893, to the time of the assignment covered five pages of L. H. Taylor & Company’s ledger. His account is largely made up of “ short ” sales, with subsequent purchases “ to cover.” Thus, on November 30, 1894, he ordered “short” sales of 200 shares of Erie Railroad Company, 200 shares of…
1Opinion of the Court
Opinion by
Mb. Justice Mitchell,
This is another claim against the estate which was considered in Howard’s Appeal, ante, p. 304, a reference to which will sufficiently disclose the general facts. When the firm failed this appellant was indebted to them in about $8,000 for balance due on purchases of stock they had made for him, but as collateral security for this balance they held other stocks previously bought and paid for by him, worth over $9,000. He tendered the balance due by him and demanded his collateral. It could not be returned, having been hypothecated by them under a general…
2Cases cited4 opinions
- Peters v. GrimSupreme Court of Pennsylvania · 1892
- Repplier v. JacobsSupreme Court of Pennsylvania · 1892
- Anthony v. UnangstSupreme Court of Pennsylvania · 1896
- J. C. McNaughton Co. v. HaldemanSupreme Court of Pennsylvania · 1894
3Cited by1 opinion
- Smyth v. GlendinningSupreme Court of Pennsylvania · 1900