Federal Deposit Ins. v. Woods

SWINFORD, District Judge.

This is an action by the receiver of a national bank to recover on a promissory note found in the assets of the bank at the time it went into liquidation.

The Taylor National Bank of Campbellsville, Kentucky, was a banking institution of many years standing. At one time practically the entire stock of the bank had been owned by George H. Gowdy, the uncle of the defendant. At the time the bank went into receivership about 81% of the stock was owned by T. O. Morton, its executive president and cashier, and members of his immediate family. Mrs. Lois G. Woods had long been…