Hay v. Lehigh Valley National Bank

Supreme Court of Pennsylvania May 17, 1915

Hay v. Lehigh Valley National Bank, 249 Pa. 543 (Pa. 1915)

95 A. 264; 1915 Pa. LEXIS 761

Brown, Elkin, Frazer, Mestrezat, Stewart

Opinion of the Court

Per Curiam,

This is a very simple issue and involves questions of fact Which were for the jury, and their finding is that the defendant had converted to its own use certain bonds belonging to the plaintiffs. A clear history of the case is to be found in plaintiffs’ brief statement of their cause of action, which will appear in the reports in connection with‘this opinion. After a careful consideration of the assignments of error and the argument of learned counsel in support of them, we are of one mind, that the learned trial judge committed no error during the progress of the trial or in his charge submitting the case to the jury.

Judgment affirmed.

Reference

Full Case Name: Hay v. Lehigh Valley National Bank of Bethlehem
Status: Published
Syllabus: Trespass—Trover and conversion-—Bonds—Collateral security— Bale of collateral—Misappropriation of balance. In an action to recover damages for the conversion of certain bonds alleged to have been the property of plaintiffs and to have been unlawfully appropriated to the defendant’s use, a verdict for the plaintiff was sustained where it appeared that the bonds in question had been pledged by the plaintiffs as collateral security for a note made to a trust company; that the note had been sent to the defendant for collection; that thereupon it paid off the note and took into its possession the bonds; that subsequently it delivered the bonds to a traction company and received in exchange therefor other bonds, which it appropriated to the payment of the original loan, realizing from the sale of a portion of them the amount of the loan and converting and appropriating to their own use the unsold remainder of the bonds, to recover the value of which the action was brought..