Page:Federal Reporter, 1st Series, Volume 1.djvu/711

 ever nature the same might be, whether it was personal chattels or bonds, bills, notes, securities, or choses in action of any kind, or any other property, might be held by said bank as a pledge and collateral to any indebtedness that might then and there exist between the said Grant and the said bank; that in pursuance of said agreement, and upon the faith of such securities as the said Grant agreed to furnish, the plaintiff, from time to time, discounted notes and bills for the said Grant, and loaned him money thereon; that on the twentieth of December, 1876, Grant was the owner of 150 tierces of lard, which he left in store with the defendant, and received from him a warehouse receipt therefor, as follows:

“, December, 1876.

“Received in store, from James B. Grant, 150 tierces lard, prime steam lard, weighing this day fifty thousand two hundred and fifty pounds net, (50,250 lbs. net,) which are subject to his order upon the return of this warehouse receipt.

[Signed] “Per G., Jr.”

—And that said Grant, on or about the twenty-third day of December, A. D. 1876, pledged and delivered said warehouse receipt as colateral security to the plaintiff.

That the defendant kept in store large quantities of lard at his warehouse, and, from time to time, issued his warehouse receipts to those for whom he held the property in store; that from long and general usage in commerce and trade such warehouse receipts have now, and for a long time past have had, a well understood import among business men, and heretofore have been and are now extensively used in the city of Cincinnati as a common security in obtaining loans and discounts, and in other dealings with banks and bankers; and that the said warehouse receipt was issued by the defendant to the said Grant, that the same might be used by the said Grant as collateral security in his various business transactions; that the said Grant left the said warehouse receipt as security with the plaintiff, in pursuance of the agreement made with it on the twenty-third day of December, 1876;