Peurifoy, Rec'r v. Boswell

June 2, 1931. The opinion of the Court was delivered by This is another of the many controversies which have arisen from the liquidation of the affairs of the American Bank Trust Company, of Columbia. The American Bank Trust Company failed to open on the morning of June 26, 1926, and on July 19th James E. Peurifoy was appointed receiver of its assets. The Bank of Manning was a correspondent bank of the American Bank Trust Company and at the times of the transactions involved in this action, and up to the time of its closing, carried a deposit balance to its credit with such bank.

Under date of…