MR. CHIEF JUSTICE WAITE delivered the opinion of the court.
This record shows that on the 18th of April, 1874, Acalus L. Palmer recovered a judgment in the Supreme Court of New York against Erwin A. Hussey for $32,128.57 on account of certain bonds of the United States which had been placed in his hands by Palmer, and for which he bound himself by a writing, the material part of which is as follows:
"These bonds we hold subject to the order of A.L. Palmer...
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