Williams v. First National Bank

Complainant, trustee in bankruptcy, sues for $4,792.01, the value of lumber alleged to be assets of F.. W. Blair bankrupt, appropriated by the bank under a contract alleged to be void, and for an alleged preference of $1,384.50 paid by Blair to the bank. Both transactions occurred within four months of the adjudication in bankruptcy, their dealings date from June 1, 1909, and before, when Blair owed the bank $40,000. This liability was reduced to $15,000 by application of proceeds of certain land on which the bank held a mortgage. A further payment reduced the debt to $12,800, and Blair…