Barry v. Lawrence Warehouse Co.

STEPHENS, Circuit Judge.

Appeal by the trustee in bankruptcy of the Central Auto Supply Company, an Arizona corporation from a judgment of the United States District Court for the district of Arizona, holding that the pledge of non-negotiable warehouse receipts to the Valley National Bank of Phoenix, representing goods allegedly deposited with Lawrence Warehouse Company, a California corporation, entitled the bank to retain possession of the goods to satisfy debts owing the bank by the bankrupt.

Long prior to the filing of its petition in bankruptcy the Central Auto Supply Company, a retail…