Hall v. First Nat. Bank of Jacksonville

On January 1, 1921, and for some years prior thereto, the appellee the First National Bank of Jacksonville and the Farmers' Guaranty State Bank were private banking corporations doing business in Jacksonville, Tex. They were members of what is here called a "clearing house," a voluntary association of the three local banks at Jacksonville, through which they adjusted the daily differences resulting from the payment by one bank of checks drawn on another bank. In due course of business the appellee the First National Bank of Jacksonville cashed and acquired possession of a large number of…