Murray v. American Savings Bank

I. At the close of business November 4, 1921, the American Savings Bank closed its doors and suspended its business. By appropriate proceeding, Paul J. Fisher was appointed its receiver. Among the assets of the insolvent bank is a note for $500, executed by the intervener, Benjamin Katz. At and before the time of suspension, Katz had a deposit in the insolvent bank to his credit in the amount of $115.50. He also held a check, of $386.49 drawn to him as payee by Samuel Katz, upon the insolvent bank as drawee. Samuel Katz had a deposit to his credit in such bank of $690. On November 4, 1921,…