Springfield Wagon Co. v. Bank of Batesville
Supreme Court of Arkansas
Appeal from Independence Circuit Court, Richard H. Powell, Judge. STATEMENT BY THE COURT. H. H. Hinkle was the owner in 1894 of certain shares of stock in the Bank of Batesville. In that' year he pledged this stock to S. R. Hinkle to secure payment of a loan of money. Afterwards he became indebted to the bank.
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Appeal from Independence Circuit Court, Richard H. Powell, Judge. STATEMENT BY THE COURT. H. H. Hinkle was the owner in 1894 of certain shares of stock in the Bank of Batesville. In that' year he pledged this stock to S. R. Hinkle to secure payment of a loan of money. Afterwards he became indebted to the bank. This indebtedness of H. H. Hinkle to S. R. Hinkle and to the Bank of Batesville was still subsisting and unpaid in 1898, at which time the Fp.'ingfield Wagon Company, the plaintiff in this action, recovered a judgment against H. H. Hinkle. An execution was issued on this judgment, and…
1Opinion of the Court
Riddick, J.,
(after stating the facts.) We are of the opinion that the ruling of the circuit court was correct. It is not disputed that H. H. Hinkle was at the time of the issuance of the execution against him, and is yet, indebted to the Bank of Batesville for a sum of money greater than the value of such stock. The bank had a lien upon the stock for its debt, and, if this lien was superior to that of the execution creditor, a transfer of the stock would have availed nothing, for it would have been subject to a lien for a greater sum than the value of the stock. The statute provides that the…
2Cases cited1 opinion
- Oliphint v. Bank of CommerceSupreme Court of Arkansas · 1895
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