Federal Reserve Bank v. Citizens Bank & Trust Co.

September 22, 1931, tbe Citizens Bank & Trust Company of Pocatello, Idaho, received from appellant certain checks for collection and remittance, drawn by depositors of the Citizens Bank & Trust Company on their respective deposits in said bank. On that- day, the Citizens Bank & Trust Company stamped said checks “paid,” charged the amounts to the several accounts of their depositors, and in payment thereof sent a draft in the amount of $26,335.70 to the Salt Lake City branch of appellant at Salt Lake City, Utah, which draft reached Salt Lake the morning of September 23d, on which day the…