President of the Montgomery County Bank v. Albany City Bank

The plaintiff, the Montgomery County Bank, being the owner of a draft drawn by Loucks & Cray upon Morgan Cray, of the city of New York, indorsed by L. Jones, and Jones & Hart, transmitted it to the Albany City Bank, its correspondent and agent in the city of Albany, for collection. That bank received it on the 8th of July, and immediately transmitted it to the Bank of the State of New York, its Correspondent and agent in the city of New York, for the same purpose. It was received by the latter bank on the 10th of July (the day of its maturity), and sent immediately to the *13drawee, and left…