Massachusetts Supreme Judicial Court June 18, 1874 (Newcomb v. Boston & Lowell Railroad)

Gray, C. J.

The railroad receipts, in which Botsford, Hibbard & Co. were named both as consignors and as consignees, having been transmitted by them, together with the drafts drawn by them on Chandler & Co. for the price of the oats, to a bank in Boston for collection, were manifestly intended to be held by the bank as security for the acceptance and payment of the drafts.