Lyrics of Lincoln's Inn : With Notes for the Benefit of the Unlearned

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(1890.) By the common law 'tis settled, he who parts with goods for pelf, Can transfer no better title than the right he has himself ; Though if goods in market overt be notoriously sold, These against the very owner buyers have the right to hold.
Save that if the goods in question were unlawfully obtained, Then the unoffending purchaser may forfeit what he gained ; For the owner of such chattels gets by statute this relief, That to him reverts the title on conviction of the thief.
But to cash
...and notes, that pass from hand to hand like money bright, Taken in good faith for value, law annexes valid right.
And of this exception there are now included in the range All securities negotiable upon the Stock Exchange.
There's a custom in the City, whereby brokers borrow money From the bankers lending gladly, keen as bees to gather honey ; And the brokers (gentle reader, it may give your mind a shock) Pledge securities — their own and those of others too— en bloc.
c 2 36 Of Fraudulent Brokers and Outraged Bankers.


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