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GOTHAM NAT. BANK v. SHAROOD

No. 57.

23 F.2d 567 (1928)

GOTHAM NAT. BANK OF NEW YORK v. SHAROOD CO.

Circuit Court of Appeals, Second Circuit.

January 16, 1928.

Attorney(s) appearing for the Case

Jonas & Neuburger, of New York City (Murray L. Jacobs and Lyle Evans Mahan, both of New York City, of counsel), for plaintiff in error.

Szold, Perkins & Brandwen, of New York City (Robert Szold and David L. Podell, both of New York City, and Irvine J. Shubert, of Brooklyn, N. Y., of counsel), for defendant in error.

Before L. HAND, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

SWAN, Circuit Judge (after stating the facts as above).

For an understanding of the questions of law presented by this record, it will be necessary to state the facts in some detail. Teco, Inc., was largely indebted to the bank for moneys loaned to it to finance the purchase of great quantities of army merchandise imported from France for sale. As security for the indebtedness, such merchandise was lodged in storage warehouses in New York City, to be released upon...

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