Philadelphia Nat. Bank v. Fulton Nat. Bank

SIBLEY, District Judge.

Philadelphia National Bank sues Fulton National Bank at law, and a general demurrer challenges the light to recover. The facts pleaded are that, at stated intervals during 1917, the Insurance Company of North America drew drafts upon itself in favor of named payees, the drafts on their face to be presented through Philadelphia National Bank. Each draft came to Fulton National Bank under indorsement in the name of the payees, but really forgeries. Fulton National Bank indorsed each as follows: “Pay to the order of any bank, banker, or trust company. All prior…