Leach v. Citizens' St. Bank of Arthur

The facts are not-in dispute. The Federal Reserve Bank of Chicago sent by mail, direct' to the Citizens’ State Bank of Arthur, checks drawn by various parties on the latter bank. The checks were sent in two lots, -and with each was a communication called a cash letter, which read: - >'

“We enclose herewith for collection and remittance, at par items listed below.”. - - ■ . - . : ■ ■

The Citizens' State Ba~ak charged the various checks to the accounts &f the several drawers, and i~sued its two draJ~ts u~on the Continental & Commercial National Bank of Chicago, payable to the order of the Federal…