First Nat. Bank v. Towner
Court of Appeals for the Sixth Circuit
Appeal from the District Court of the United States for the Western District of Tennessee; John E. McCall, Judge. Suit by R. P. Towner, trustee in bankruptcy of the Reliance Cotton Company, against the First National Bank' of Memphis, Tenn., to require the bank to surrender to the trustee for cancellation certain negotiable bonds and a deed of trust securing them. Decree for complainant, and defendant appeals.
1Opinion of the Court
WARRINGTON, Circuit Judge.
This appeal is from a decree in effect requiring the bank, appellant, to surrender to appellee, as trustee in bankruptcy of the Reliance Cotton Company, a corporation, for cancellation, certain negotiable bonds and a deed of trust securing them, which had been issued and delivered by the bankrupt. The basis of the decree is a finding in substance that, although the bonds had been received by the bank in pledge to secure a loan, it made to the Reliance Company and the loan had been fully paid, the bank, erroneously believing it had the right so to do, continued to…
2Cases cited41 opinions
- Murray v. LardnerSupreme Court of the United States · 1865
- Peters v. BainSupreme Court of the United States · 1890
- Louisville, New Albany & Chicago Railway Co. v. Louisville Trust Co.Supreme Court of the United States · 1899
- Humphreys v. McKissockSupreme Court of the United States · 1891
- Carpenter v. BellTennessee Supreme Court · 1896
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3Cited by4 opinions
- Wootton Land & Fuel Co. v. OwnbeyCourt of Appeals for the Eighth Circuit · 1920
- In re AllenCourt of Appeals for the First Circuit · 1926
- In re Gilchrist Co.District Court, D. Massachusetts · 1922
- Fors v. FarrellMichigan Supreme Court · 1935