Watt v. German Savings Bank

Novation : substitution of new debtor : surrender of old notes, etc. Many cases pending in the district court were consolidated for the purposes of trial. As the pleadings cover 161 pages of the otherwise voluminous abstracts, the issues will be better understood if separately stated in disposing of specific claims. A brief history of the enterprises involved seems essential by way of introduction. The German Savings Bank was organized as such, with a capital of $50,000, in 1892. A partnership known as Newman Bros., or Newman Brick Company, became indebted to the bank, and, on October 3,…