First National Bank of Pittsburgh v. Dowling

Opinion by

Mr. Justice Kephart,

Appellee, in October, 1920, was indebted to the Lincoln Deposit & Trust Co., a bank in Altoona, in the sum of $8,000, evidenced by a promissory note. On October 4th. of the same year, appellee borrowed from the First National Bank of Pittsburgh, a like sum, giving therefor his note with Albright, president of the Lincoln bank, as endorser. Four hundred shares of the capital stock of the Manufacturers Coal Company were deposited as collateral. It was the understanding between appellant, appellee, and Albright that the proceeds of the note were to be forwarded to…