First & American National Bank v. Whiteside

Stone, Justice.

Action to enforce a pledge of securities. After trial to the court and decision for plaintiff, defendants appeal from the order denying their motion for a new trial. The one issue is whether plaintiff, in foreclosing, will be entitled to judgment against the Whiteside estate for a probable deficiency. Appellants’ whole effort, unsuccessful below, is to demonstrate that plaintiff will have no such right.

Robert B. Whiteside was the owner, subject to a mortgage to the Detroit Trust Company for $600,000, of a large tract of timberland in California. In January, 1927, he contracted…