Balcomb v. Old Nat. Bank
Court of Appeals for the Seventh Circuit
In Error to the District Court of the United States for the Eastern District of Wisconsin; A. L. Sanborn, Judge. Action at law by E. W. Balcomb, trustee in bankruptcy of the Lawrence Manufacturing Company, against the Old National Bank and the Paine Lumber Company, Limited. Judgment for defendants, and plaintiff brings error.
1Opinion of the Court
BAKER, Circuit Judge.
Plaintiff in error failed in his action to recover an alleged preferential payment.
With one exception the facts are the same as in Campbell v. Balcomb, 183 Fed. 766, 106 C. C. A. 474. In both cases the collections were made through the Oak Park Bank, of Oak Park, Ill., as agent, and the agent knew the insolvent’s condition and purpose, and “had reasonable cause to believe” that preferences were intended. In the Campbell Case the Oak Park Bank was unquestionably the agent of the creditor, and the payment was recovered by the trustee as a preference. Here the creditor, the…
2Cases cited3 opinions
- Exchange Nat. Bank of Pittsburgh v. Third Nat. Bank of NYSupreme Court of the United States · 1884
- Hoover v. WiseSupreme Court of the United States · 1876
- Campbell v. BalcombCourt of Appeals for the Seventh Circuit · 1910