Merchants' Bank v. . Elderkin

The plaintiff sent the note to its correspondent in Troy, the Commercial Bank, to be collected. The Commercial Bank, before the commencement of banking hours, on the last day of grace, sent the note to the Troy City Bank, at which the note was, by its tenor, payable. The note remained there until between one and two o'clock of the afternoon of that day (their banking hours ending at two), and was then, before two, returned to the Commercial Bank, unpaid, and the cashier of the latter bank (being a notary), gave the notice of protest to the indorsers. There were no funds in the City Bank to…