Hampton Loan & Exchange Bank v. Lightsey

The opinion of the Court was delivered by

Mr. Justice Cothran.

This is an action by the Hampton Loan & Exchange Bank of Hampton against the receiver of the Bank of Hampton, claiming to be subrogated to the rights of the Citizens’ & Southern Bank of Savannah in certain collateral which had been held by the last-named bank to secure certain obligations of the Bank of Hampton, and which had been turned over to the receiver of the Bank of Hampton under the circumstances hereinafter detailed.

For convenience and to avoid confusion, the Hampton Loan & Exchange Bank will be referred to as the “Loan &…