Leonard v. Taylor

On November 17, 1930, the American Exchange Trust Company, being' insolvent, closed its doors. At that time, and for a considerable period previous thereto, it held a, note for $10,000 executed in its favor by J. E. Shroll and Ben C. McFerrin, evidencing a loan of $10,000 in money, which had been made to Shroll to aid in the construction of bridges in Newton County, Arkansas, in road improvement No. 6. This improvement was begun prior to the passage of the Harrelson Road Law, act No. 5 of the acts of the General Assembly of 1923. In aid of the construction, Newton County undertook to pay for…