Page:United States Reports, Volume 209.djvu/413

 THOMAS . TAGGART. 0 U.S. Op/nion of th Com' cover certain certificates of stock, as bankruptcy, or to have a hen on the funds, the proceeds other stocks in the hands of the trustees. The claims Were referred to a referee in bankruptcy, and, upon hear/ng, he found in favor of certain of the claimants, among othe Mrs. Ta,art, F/leon, Hall and Bowers. The report of the referee was confirmed by the Distr/ct Jude on October 4, 105, and the trustees were d/rectcd to turn over certain certificates of stock and proceeds of other certificates to the claimants. Upon firmed by the Circuit Court of Appeals for the Second Cir- cuit 5 ri In r By, 149 Fed. Rep. 176, and the case is now here upon a writ of certiorari. -. From the findings of the referee it appesm that certificate of stock were pledged with the Hanover National Bank by Berry & Company the day before the failure. This pledge was to secure a demand loan of $45t000. Subsequently the bank returned to the trustees all funds and stocks over and above its loans. It returned in cash $6,310.41 and certain shares of stock. Taking up the several claims, we will first notice that of Anna D. Taggatt. She claims two certificates for 83 shares of United States Steel stock preferred, which were returned by the Hanover Bank unsold to the trustees in bankruptcy. The receipt given to Mrs. Taggatt at the time of the depoeit is in the words following: "SEP. 14, 1904. "Received from Anna D. Taggart 83 she. U. S. Steel pfd. No. ,30563-c15546. The same to be a general deposit and this receipt is given and received with mutual understanding that �Jacob Berry & Co. may hold the same as margin and as a security for or apply the depoeit in part payment of or account of lomes or any other transactions in the purchase or sale of tocks, bonds, securities or commodities nmde by them for your account. "This receipt is given and received upon the further under-

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