Bank of America National Trust & Savings Ass'n v. Rocco

GOODRICH, Circuit Judge.

These cases are before this Court on remand from the Supreme Court of the United States, Bank of America Nat. Trust & Savings Ass’n v. Parnell, 1956, 352 U.S. 29, 77 S.Ct. 119, 1 L.Ed.2d 93. The original suit was brought to recover the proceeds of. certain bonds guaranteed by the United States and alleged to have been stolen from the plaintiff. It was further alleged that the bonds were paid by the Federal Reserve Bank of Cleveland to the defendant, First National Bank in Indiana, Pennsylvania, which in turn paid the proceeds to the defendant, Parnell, who in turn…