Central Hanover Bank & Trust Co. v. United Traction Co.

*53SWAN, Circuit Judge.

The claim of the appellant is based upon two promissory notes of the Union Traction Company payable upon demand with interest at 6 per cent, per annum. The first note, dated December 31, 1928, in the sum of $3,563,508.17, was payable to the order of Ellis L. Phillips and George W. Olmsted, and was by them endorsed without recourse and acquired by the appellant on November 1, 1929. The second note, dated December 1, 1929, in the sum of $198,503.21, was payable to the appellant. It represented interest accrued upon the first note. The face amount of these two notes, with…