First National Bank v. Lyons Exchange Bank

The opinion of the court was delivered by

Porter J.:

This is an action by one bank to recover from another bank the amount of a draft which was protested and *195not paid. There was a judgment in favor of defendant and the plaintiff appeals.

On September 1, 1914, Frank 0. Johnson was indebted to the First National Bank of Herington to the amount of $2407, for which the bank held his notes secured by certain chattel mortgages. He had also left with the bank as additional security a purported note for $2200, dated May 19, 1914, payable to himself or order, and falling due September 19, 1914, which was…