Page:United States Reports, Volume 209.djvu/417

 celved his Pennsylvania stock, and on ilovember 26 no cer- tiffcate of Pennsylvania stook came into the hands of the receiver in bnlrmptey, nor was deposited in any bank as col- Upon the principles stated, we are clearly of the opinion that Filson 'had a valid claim for the value of his shares of Atchison stock in controversy. As to two shares of New York, New Haven and Hartford stock, claimed by W'dliam C. Bowers, the fact require no additional discuesion. These shares were pledged and the same receipt given as above described. The shares were pledged to the Hanover Bank and returnec. l. unsold to the trus .tqes. As Bowers was not indebted on the account for which they were held as security, the shares belonged to him. George E. Hall seeks to recover a certificate for ten shares of common stock of the United States Steel Corporation, re- turned to the trustees by the Hanover Bank, unsold. On November 1, 1904, Hall deposited certain securities, including the 'steel stock, with the New Haven ma,sger of Berry-& Company, and took a receipt, specifying that they were held "as collateral." Berry & Com'pany hypothecad them with the Hanover Bank. Hall had a speculative account with Berry & Company at the time, and ihe securities were de- posited in lieu of cash marin for the account. By a prior or- der in the bankruptcy proceeding the claimant has recovered from the trustees certain stocks found to be his property, but which had not been hypothecaed with Berry & Company. No lien or claim on the stock in question is 'asserted by the tirestees, and Hall was not indebted to Berry & Company on November 25, 1904. Hall filed a claim in bankruptcy on De- esmber 19, 1904, for $1,850 Which included the value of all his stocks in the hands of Berry & Company, valued at $1,6(}0, and a cash balance of $250 due him. In the proof of his claim, -Hal! set forth the following statement relative thereto: "Said deponent hereby:stipulates that 'by filing notice'of this claim he does n, ot waive' any fight f action that he now

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