STATE BY PARSONS v. Otis Elevator Co.

I am constrained to dissent because in my judgment the effect of the prevailing opinion is to deprive innocent creditors of J. B. Skehan & Co. of assets that are rightfully theirs.

Ehodes, in whose name the stock was registered on the books of the company, wrote the company the letter that is in evidence stating that he had endorsed the certificate for the shares of its stock and had delivered it to the receiver of J. B. Skehan & Co. Ehodes’ letter is not only clear and unambiguous as to his endorsement of the certificate and its delivery to the receiver but also as to the termination of any…