Justh v. National Bank of Commonwealth

By the Court, Freedman, J.

This action was brought by the plaintiffs to recover the sum of $40,000, loaned by *493them to William E. Gray & Co., and deposited by the latter with defendant, on the ground that the loan was made on the security of certain collaterals, which proved to be forged. On the trial the following facts were established.

William E. Gray & Go. kept an account with defendant, and, on the morning of December 10th, 1869, they commenced the business of the day by borrowing $30,000 from said bank. The loan was made in the ordinary manner of doing business with brokers, on call, upon…