Plaintiffs bought some interim certificates (at that time non-negotiable in New York), and delivery was made to them. Because of inability to make payment that day, they asked the vendor to send a runner for the certificates, and when a person appeared asking for the amount due the vendor, plaintiffs' cashier gave him the certificates. Shortly thereafter the proper runner arrived, and plaintiff's at once gave notice of the theft in newspapers and otherwise. Some of the stolen certificates were pledged with defendant who acted in good faith in taking them. The defense to this suit for recovery of the certificates was that since the property was given to plaintiffs' agent, they were estopped to assert the wrongful disposal. Held, that there was no voluntary transfer to the thief and hence no estoppel. Rothschild v. First Nat. Bank of Binghamton, 251 N. Y. S. 25 (Sp. Term, 1931).