Italian Fruit & Importing Co. v. Penniman & Carrington

This is an appeal from an order overruling the exceptions to an audit distributing assets of the City Trust and Banking Company. The appellant chartered the steamship “Astrea” for five months at $4,001.25 per month, payable semi-monthly in advance. The owner demanded security and the City Trust and Banking Company gave what is spoken of as a banker’s guarantee for that purpose on March 14th, 1903. The appellant company had an account with the Banking Company previous to that time, and on that date drew a certified check for $15,000 to the order of Wm. F. Wheatley, who was president of the…