57 Ga. 274 | Ga. | 1876
This was an action of trover brought for the recovery of certain bonds of the Savannah and Albany Railroad Company, payable to bearer, and. not yet due, with coupons attached. The bonds were deposited with one Bruén by the plaintiff, for safe keeping, with directions to collect the coupons, but without authority to dispose of the bonds or otherwise use them. Bruén borrowed $1,500 00 from defendant and deposited these bonds as-collateral security, representing that he had full right and authority to control them, and concealing Bealle’s title. The bank made the loan on the security of the bonds in entire good faith and total ignorance of plaintiff’s title. The bonds were nominally $500 00 each — in the aggregate $2,500 00, worth eighty cents on the dollar, or $2,000 00. The plaintiff demanded the bonds, defendant refused to deliver them up, the court charged to the effect that the title
In the case against the Citizens’ Mutual Loan Company, the bonds had been sold by the bank prior to the demand. This fact can make no difference in the principle decided.
Judgment affirmed.