Federal Reserve Bank v. Millspaugh

This is a suit brought by the respondent in the Circuit Court of Scott County against the appellant as Finance Commissioner of the State o£ Missouri in charge of the Bank of Oran, which failed and is now in process of liquidation.

The purpose of the action was to have certain funds in the hands of the commissioner in charge of the assets of the bank declared to be entitled to a preference over the claims of general creditors.

The case was tried to the court upon an agreed statement of facts. Plaintiff’s claim was declared to be preferential and was allowed, and judgment rendered in its favor…