We think this is a mortgage and not a pledge. Whether it should be considered as one or the other, depends on the intent of the parties ; and as the chattels were not delivered into the possession of the plaintiffs, it could not be a pledge.1
See Story on Bailments, 198, 201; 4 Kent’s Comm. (3d ed.) 138; Homes v Crane, 2 Pick. (2d ed.) 610, n. 1; 2 Story’s Comm. Eq. 296, 297.