Mechanics Universal Joint Co. v. Culhane

SPARKS, Circuit Judge.

This suit in equity was originally instituted against appellants by appellee’s predecessor as receiver of the Manufacturers National Bank & Trust Company of Rockford, Illinois. By it, appellee sought to recover the sum of $42,716.12 paid by said Manufacturers Bank to the Third National Bank as and for a deposit in the Third National to the appellant company’s credit. The money was paid on a check of appellant company drawn Upon the Manufacturers Bank. The check *148was drawn the day before the Manufacturers Bank finally closed its doors, and was paid through the clearing…