Equitable Trust Co. v. Rochling

Respondents, bankers of Frankfort-on-Main, maintained a general deposit account with the bankrupts, who were private bankers in New York City. On instruction of Lloyds Bank, Ltd., London, which was requested by respondents “ to procure this amount for us ” on June 15, 1923, “ at Knauth, Nachod & Kuhne, New York,” the National Bank of Commerce in New York on that day delivered to Knauth, Nachod & Kuhne, the bankrupts, its cashier’s check for $30,000 payable to their order “ for account of Rochling Bank, Gebt. Frankfort-on-Main,” and took from them their receipt for the check “ for account of…