Clark Sparks & Sons Mule & Horse Co. v. Americus Nat. Bank
District Court, S.D. Georgia
In Equity. Bill by the Clark Sparks & Sons Mule & Horse Company against the Americus National Bank and N. M. Dudley, its receiver. Decree for complainant. Bill in equity for recovery of collection made by national bank on eve of its failure.
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In Equity. Bill by the Clark Sparks & Sons Mule & Horse Company against the Americus National Bank and N. M. Dudley, its receiver. Decree for complainant. Bill in equity for recovery of collection made by national bank on eve of its failure. The evidence shows that complainant on January 7, 191.4, drew a draft for $0,272.50 on one J. J. Hanesley, of Americas, G-a., for a° shipment of live stock, and deposited same for collection in his bank, the National Stockyards National Bank, in Illinois, and that said bank forwarded same for collection to ihe Americus National Bank, of Americus, Ga., and…
1Opinion of the CourtLambdin, District Judge
(after stating the facts as above). The question here presented is whether the complainant, who forwarded the draft in question for $6,272.50 for collection to the Americus National Bank, which collected same in the manner stated above, but failed to remit the proceeds before its failure, is entitled to priority of payment over the general creditors of that bank.
[1] 1. The assistant cashier, Wheatley, who handled the draft in question, was fully aware of the insolvency of the Americus bank when he made the collection, and the court is of the opinion that this knowledge should be imputed to…
2Cases cited25 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Martin v. WebbSupreme Court of the United States · 1884
- Commercial Bank of Pa. v. ArmstrongSupreme Court of the United States · 1893
- St. Louis & San Francisco Railway Co. v. JohnstonSupreme Court of the United States · 1890
- Macy v. RoedenbeckCourt of Appeals for the Eighth Circuit · 1915
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