Marlboro Trust Co. v. Elliott

PARKER, Circuit Judge.

This is an appeal in the receivership proceedings of the Peoples State Bank of South Carolina from an order denying preferential status to a claim of the Marlboro Trust Company. This claim is based upon two checks of the Peoples State Bank given in settlement of clearance balances upon the customary daily exchange of collection items between the Bennettsville branch of that bank and the Marlboro Trust Company of Bennettsville. One of the checks was given December 31, 1931, and was for a clearing balance of $1,625.78; the other was given January 1, 1932, and was for a…