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MERRILL LYNCH, ETC. v. CITY NAT. BANK OF DETROIT

No. 78-1525.

628 F.2d 969 (1980)

MERRILL LYNCH, PIERCE, FENNER & SMITH, INC., et al., Plaintiffs-Appellees, v. CITY NATIONAL BANK OF DETROIT et al., Defendants, Joseph Pagoto, Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided August 21, 1980.

Attorney(s) appearing for the Case

Charles Gottlieb, Gottlieb & Goren, Detroit, Mich., Sam F. Lowe, Jr., Atlanta, Ga., for defendant-appellant.

W. P. Cooney, Jr., John P. Jacobs, Plunkett, Cooney, Rutt, Watters, Stanczyk & Pedersen, Detroit, Mich., Robert K. Lockwood, Detroit, Mich., for plaintiffs-appellees.

Before MERRITT, KENNEDY and MARTIN, Circuit Judges.

PER CURIAM.

This is an appeal from a declaratory judgment action in which Judge DeMascio held that Merrill Lynch were entitled to recover a portfolio of securities. On April 24, 1969, Merrill Lynch mailed the securities in a package from its New York office to the manager of its Detroit office; the certificates were stolen and ultimately one Daniel Cimini was convicted of the theft. The face of the certificates contained the stamp of Merrill Lynch which certified...

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