Andrew v. Union Savings Bank & Trust Co.

— The facts out of which this proceeding arose are as follows: Previous tp' the closing of the bank and the appointment of the receiver, which occurred on December 28, 1932, appellees had borrowed money of the bank on their promissory notes in a sum in excess of $35,000. These notes with other items of credit had been pledged by the bank to the Reconstruction Finance Corporation as collateral to what is designated in the record as Loan No. 3. Appellees were also depositors of the bank having on deposit, at the time it closed, approximately $3,000. Notwithstanding the fact that their notes…