Hodgens v. Columbia Trust Co.

The action is based on the following facts: Plaintiff entered into an agreement with the defendant Fidelity Title and Trust Company of Pittsburgh whereby the Fidelity Company was to sell and deliver certain shares of stock to the plaintiff on a future date, the sale to be contingent upon the consent of certain other stockholders. To secure performance the Fidelity Company deposited the stock with the defendant Columbia Trust Company (or its predecessor), and the plaintiff deposited his notes for the purchase price and certain bonds as collateral. To facilitate a sale of the bonds to a third…