Furlow v. Corinth State Bank

SIBLEY, Circuit Judge.

The bill was brought by the receiver of the First National Bank of Corinth, Miss., against Corinth State Bank, both being insolvent and in liquidation, to set aside as an unlawful preference the transfer of certain assets of the National Bank to the State Bank made not in the due course of business and after it was known that the National Bank would not open the next day, and to fix a trust on the funds of the State Bank for such of the transferred assets as were converted into cash. The Corinth State Bank set up tnat the transferred assets were to secure a draft of…