In re United Security Trust Co.

MacNeille, J.,

On July 20,1931, prior to its closing, the trust company delivered to Mrs. Susa Hays Mirkil and Mr. H. Hays Mirkil a travelers’ letter of credit whereby Brown Brothers Harriman & Co. agreed to honor drafts drawn upon them by either of the said parties in the, maximum amount of $2,000. On the same day the Mirkils, who had on deposit in their checking accounts more than $2,000, drew checks in that amount on their accounts and delivered the same to the trust company, which credited said $2,000 in the account denominated “Letters of Credit Issued Account.” This fund was commingled…