Westinghouse v. German National Bank
Supreme Court of Pennsylvania
Appeal, No. 48, Oct. T., 1898, by Joseph W. Craig, from decree of C. P. No. 2, Allegheny County, July T., 1897, No. 828, on bill in equity in case of George Westinghouse v. The German National Bank of Pittsburg and Joseph W. Craig. Bill in equity to compel surrender of certificate of stock. The facts are fully stated in the opinion of the Supreme Court.
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Appeal, No. 48, Oct. T., 1898, by Joseph W. Craig, from decree of C. P. No. 2, Allegheny County, July T., 1897, No. 828, on bill in equity in case of George Westinghouse v. The German National Bank of Pittsburg and Joseph W. Craig. Bill in equity to compel surrender of certificate of stock. The facts are fully stated in the opinion of the Supreme Court. The court below entered a decree that the 500 shares of stock mentioned in the bill were the property of . George Westinghouse and ordered that the same should be delivered to him. Error assigned was the decree of the court. The bank did not…
1Opinion of the Court
Opinion by
Mr. Justice Dean,
On December 10, 1890, George Westinghouse, the plaintiff, delivered to Sproul & Lawrence, bankers and brokers, doing business in Pittsburg, certificates for 500 shares of the capital stock of the Fuel Gas Company of the par value of $100 each; the stock was delivered to the brokers as collateral, for the protection of Westinghouse’s account with the brokers, who largely purchased, carried and sold different stocks for him. On each certificate was the usual absolute transfer and written sale of the stock, with an irrevocable power of attorney authorizing the brokers…
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