Massachusetts Supreme Judicial Court June 27, 1884 (Brown v. New Bedford Institution for Savings)

Holmes, J.

The plaintiff is trustee under an assignment for the benefit of creditors made by one Philip D. Borden. He seeks to recover the proceeds of stock transferred by Borden to the defendant to secure a note, so far as they are not necessary to pay that note. The defendant claims the right to hold them for a general balance due from Borden.