Cohen v. International Brokerage & Clearing Co.

Finch, J.:

This action is brought to recover the value of certain furs which were pledged by the plaintiffs with the defendant to secure a loan *312made by the latter to the plaintiffs. The loan not having been repaid on its maturity, the defendant sold the furs as authorized to do by the agreement between the parties. The plaintiffs alleged, however, that the agreement was usurious and void, inasmuch as interest in excess of fifteen per cent per annum was exacted for the loan, and hence that the act of the defendant in selling the furs as aforesaid constituted a conversion thereof, and plaintiffs…