Bangor Silk Knitting Co. v. Wise

Opinion by

Mr. Justice Kephart,

Plaintiff was indebted to the Bangor Trust Company on a note and certain trade acceptances aggregating $67,-852, to secure which there was deposited with the trust company $50,000 of plaintiff’s first mortgage bonds. Payment of the note being demanded, Frank Wise, a defendant, took over the indebtedness. Thereupon the trust company endorsed without recourse the notes in its possession and delivered at the same time the $50,000 collateral. Wise, however, insisted on additional security, and $50,000 more, of the total issue of $100,000 of the same bonds, with 900…