Walker Bank & Trust Co. v. New York Terminal W. Co.

CALLISTER, Justice.

This action was brought by the plaintiff bank against the defendant warehouse company to recover for the conversion of cer tain appliances against which the defendant had issued to the plaintiff nonnegotiable warehouse receipts. A trial of the cause to the court resulted in findings and judgment in favor of the plaintiff and defendant appeals.

In the spring' of 1956, plaintiff entered into a credit arrangement with one John R. Woods, a wholesale appliance dealer. Under this arrangement Woods would borrow money from the bank and as security for the payment of the loan the…