Edward Douglass White

“ The contention that the words 'or otherwise' deprive the provision in question of its limitative effect is, we think, clearly without merit, since that view cannot be upheld without causing the words in question to dominate and destroy the meaning of the agreement as derived from a consideration of all its provisions. Particularly is this the case, as those words are susceptible of a meaning in harmony with the context; that is to say, may be held to give the right to retain securities under the circumstances stated, even although the loan may not have been made directly to the Abilene bank ”

“ For the Hanover bank it is contended that although the notes were not in its possession as collateral security for any debt due it, nevertheless, as it had the physical possession of the notes and they were not unlawfully in its hands, it had, under the agreement, the power to make the advance to cover the overdraft, and to attribute, without the consent of the Abilene bank, the notes in question as collateral security for the loan which was made. ”

“ Again, on the 17th of the same month, following the allowance of the overdraft, the New York bank wrote: 'As your account showed overdrawn to-day over $3,000, we have made you a temporary loan of $3,500 against collateral in our hands.' And the belief of the vice president, that the Hanover bank was entitled to hold the four notes as collateral, which led to the allowance of the overdraft, is clearly shown by the record to have been induced by the terms of the collateral agreement, which he at the time inspected. ”