Sherwood Distilling Co. v. Peoples First Nat. Bank & Trust Co.

PARKER, 'Chief Judge.

This is an appeal by defendants from a judgment for plaintiff 1 for the balance due on a negotiable promissory note secured by the pledge of corporate stock and warehouse receipts. The complaint alleged that the note originally issued in the sum of $800,000 and renewed for $694,600 after certain payments had been made thereon, was executed by the defendant Sherwood Distilling Company and indorsed by that corporation, the defendant Louis Mann and the Philadelphia Acceptance Corporation and was thereupon discounted and acquired in due course by plaintiff, Peoples First…