Fisher

The action was to recover damages for the alleged conversion of oil stock, and the appeal is from a judgment of nonsuit in favor of defendant. On March 16, 1914, plaintiff borrowed seven thousand seven hundred dollars from defendant, and executed his promissory note therefor payable ninety days after date, with interest at the rate of eight per cent per annum, payable quarterly. To secure the payment of said liability, plaintiff pledged one ■ rmdred shares of oil stock and executed a contract of pledge, which is a part of said promissory note. The material portions of said contract of pledge are as follows: “I hereby deposit with said bank as collateral security for the payment of this or any other liability or liabilities of mine to said bank, due or to become due, or that may be hereafter contracted, the following property, viz.: 95 shares United Petr. Co., 5 shares Union Oil Co. . . . with this condition, viz.: . . . and on the nonperformance of this promise, or on the nonpayment of any liability or liabilities above mentioned to said bank, its president or cashier ... is and are hereby given full power and authority to sell the whole or any part of the above named securities…