W. G. Jenkins & Co. v. Greene

The National Bank of Idaho held the notes of Ina N. Anthes Greene and George A. Greene in the sum of $45,122.07 and as collateral therefor, notes and a mortgage of the Pocatello Milling and Elevator Company in the same amount. The aggregate Greene indebtedness created an excess loan and for that reason $24,000 of the Greene paper was transferred without recourse to D. W. Standrod & Company, at Blackfoot, which bank in turn sold one note in the denomination of $10,000 to W. G. Jenkins & Company. The court found on conflicting evidence that in the transfer to the Standrod Bank and in turn to…