Webber v. Federal Reserve Bank

Lewis, J.,

The plaintiff, holder of a check for $Í500, payable to his order, and drawn on the Darby Bank and Trust Company, of Darby, Pennsylvania, endorsed it in blank, on January 5, 1931, and deposited it to his account with The Pennsylvania Company for Insurances on Lives and Granting Annuities. That company credited plaintiff’s account conditionally with the amount of the check and forwarded the same to the Federal Reserve *12Bank of Philadelphia, the defendant, for collection. The defendant bank promptly sent the check, together with other items, to the drawee, Darby Bank and Trust Company,…