Banks v. Everett National Bank

The plaintiffs, the trustees in bankruptcy of the Universal Hoist & Body Company (hereinafter called the body company), allege that the defendant bank wrongfully transferred funds from the deposit of the body company to the account of the Universal Pressed Steel Company (hereinafter called the steel company), by charging the account of the former with a debit memorandum in a certain amount and crediting the account of the latter with a credit memorandum in the same amount, and by honoring checks drawn by an officer of the body company and payable to the steel company; that the proceeds of…