Page:Federal Reporter, 1st Series, Volume 1.djvu/712

 that in pursuance of that arrangement said Grant became indebted to the bank for loans made to him by the bank in the sum of $21,146; that he has failed, and refuses to pay the same, and that this sum exceeds the value of all securities left with the bank; that afterwards, under the same agreement and for the same purpose, he delivered to and pledged to the plaintiff the defendant’s warehouse receipt for 100 tierces of lard; and that on the nineteenth day of January, 1877, under the same agreement, and for the same purpose, he delivered and pledged to the plaintiff the defendant’s warehouse receipt for 50 tierces of lard; that the plaintiff tendered o the defendant the warehouse receipt, and demanded of him the delivery of the lard, which the defendant refused, and still refuses to deliver.

And the plaintiff prays judgment for $9,000, with interest from the twenty-seventh day of September, 1877.

The defendant, by answer, denies:

1. That an agreement was made by the plaintiff with Grant, as alleged in the petition, and avers that such agreement, if made, was void.

2. That before any loan had been made upon the receipts the lard had been delivered in good faith to Grant, without notice that the plaintiff had any interest in it, and that said warehouse receipts had been canceled before they were pledged; denies that they were pledged as collaterals for loans or advances to be made, but were pledged for loans known as call loans long after the lard had been delivered to Grant.

Defendant denies that he had knowledge or notice of plaintiff holding said receipts until a second lard season came around; that he received and held the receipt an unreasonable length of time, and thereby deprived defendant from protecting himself before Grant became insolvent.

3. That they had been satisfied before plaintiff received them, and therefore no interest vested in them.

4. Denies the value of the lard as alleged, and says no offer to pay storage or charges was made.

5. Denies that Grant is indebted to the bank, and denies