Piedmont Print Works, Inc. v. Receivers of People's State Bank

SOPER, Circuit Judge.

Piedmont Print Works, Inc., and Southern Bleaehery & Print Works, Ine., filed a joint petition in the District Court in the receivership proceedings of the People’s State Bank of South Carolina, an insolvent bank, asking that a portion of the deposit of Piedmont Print Works, Inc., in the bank, amounting to $12,331.71, be set off against a note of Southern Bleaehery & Print Works, Ine., in the sum of $5,000 held by the bank. The petition was resisted by the receivers, and was dismissed by the District Judge after the submission of certain evidence now to be summarized.

The…