First State Bank & Trust Co. v. First National Bank

A check dated September 1, 1921, for $885.10, drawn on the First State Bank and Trust Company of Canton, Illinois, (designated the State bank,) payable to the order of A. P. Holt and purporting to be signed by the Fiatt Farmers Co-operative Company by Willard Barclay, manager, was presented to the First National Bank of the same city (designated the National bank) on September 2, 1921, by a person who represented himself as the payee. He endorsed the check and received upon it from the National bank $385.10 in money and credit for the balance of $500 in an account opened in the payee’s name.…