Bank of Palmetto v. Marine Bank & Trust Co.

BRYAN, Circuit Judge.

This is a suit against the Bank of Palmetto, Ga., defendant, upon its check for $9,987.50, payable to the order of the Marine Bank & Trust Company, of New Orleans, plaintiff, which sues for the use of Shepard & Gluck, cotton brokers on the New Orleans Cotton Exchange.

The defendant telegraphed to Shepard & Gluck that one Bullard had deposited with it $10,000 to their credit. Shepard & Gluck immediately thereafter drew, and placed with the Marine Bank & Trust Company for collection, their draft for $10,000 on the defendant. Upon receipt of this draft the defendant issued…