Read v. Pennsylvania Co. Etc.

Opinion by

Mr. Justice Maxey,

On December 30,1929, Milford J. Baker was indebted to defendant bank upon a note in the sum of $23,139.00, and there was pledged as collateral for this loan certain securities of his own as well as certain securities of one Budd. When the value of the collateral declined and the bank called for additional security, plaintiff, at Baker’s request, turned over to the latter for delivery to defendant, certificates of stock registered in plaintiff’s name and endorsed in blank by him. Plaintiff contends that he did not give Baker or defendant the right to rehypothecate…