Love v. J. W. Jones & Son

During the year 1939, V. M. Carothers of Booneville, Mississippi, was engaged in the business of buying and selling' cotton, and he had arranged with the Corinth Bank & Trust Company to finance this business during the cotton season of 1930 by permitting him to overdraw his account with that bank to the extent of the purchase price of the cotton bought by him during the season; this overdraft to be secured by bills of lading covering cotton shipments, or by warehouse receipts covering cotton stored in warehouses.

J. W. Jones & Son and Burrow & Co., appellees herein, were engaged in buying and…