Arcadia Mills v. Bankers' Trust Co.

NORTHCOTT, Circuit Judge.

This is an action at law brought in September, 1931, in the District Court of the United States for the Western District of South Carolina by the appellee, Bankers’ Trust Company, a New York banking corporation, herein referred to as the bank, against appellant, Arcadia Mills, a South Carolina textile corporation, herein referred to as the mills, on the latter’s five promissory notes, payable to the bank, aggregating $220,009. The mills filed an answer admitting the execution of the notes but setting up an affirmative defense, claiming that the bank had agreed to…