Persons v. Russell

This is a bill to disaffirm the sale of a pledge upon the ground that the pledgee, without authority, xTOrchased at his own sale. The pledge consisted of first mortgage bonds, assigned as collateral security for debt. The bill further seeks to call the pledgee to account for the proceeds of these bonds, in excess of the debt secured, derived from a foreclosure of the bond mortgage, by suit in equity brought by the pledgee as owner of the bonds after his purchase at the sale. The pledgee, at the time of the sale, was acting administrator of the estate of a decedent to whom the original pledge…