Page:Federal Reporter, 1st Series, Volume 4.djvu/146

 133 FEDEBAIi BEFOETEB. �of -the partners, in whose name the stock had been regie- tered previous to the transler to Mr. Henry. The plaintiff requested the court to charge the jury as foUows : "If the jury find that the corporation defendant held the 450 shares of the capital stock of the First, National Bank of Allentown as collateral security for a loan to W. H. Blumer & Co. by transfer to «T. G. Henry, President,' and then by the defendant to its irresponsible employe, for the purpose of avoiding liability as stockholders, the verdict must be for the plaintiff." �The defendant's first point was as foUows: 1. That in order to recover in this case the plaintiff must establish as a fact that the corporation defendant became and was the holder of the 450 shares of the stock of "The First National Bank of Allentown," and that there is no evidence that the defendant was the holder of the said shares, and the verdict must be for the defendant. �The plaintifif's point was affirmed, subject to the judgment of the court thereafter on the defendant's first point, and charged the jury to find for the plaintiff. �The verdict was for the plaintiff for $10,026. Defendant filed motions for a new trial and for judgment non obstante veredicto on the point reserved. �Geo. Junkin and Richard C. McMurtrie, for the motion. �Preston K. Erdman and Edward Harvey, contra. �Butler, D. J., (orally.) The authorities upon the ques- tion raised by this case may be divided into three classes : First, where the pledgee of stock bas taken a transfer of the stock direetly to himself, and has had such transfer registered on the books of the corporation. It has been held that in such case the pledgee is liable for assessments. Second,-wheie the pledgee has sought to relieve himself by making a trans- fer of the stock to an irresponsible third person. In such case he is liable. Third, where no transfer is made to the pledgee, and his name is not registered as owner, but the owner of the stock puts it into the hands of a third person to hold for the benefit of the pledgor and pledgee. In such case the pledgee has never been held responsible. . ����