Knaffl v. Knoxville Banking & Trust Co.

The questions for decision in this case arise on the petition of intervention filed by the Rand Powder Company in this (a general creditor’s) proceeding, to wind up the affairs of the Knoxville Banking & Trust Company as an insolvent corporation.

The powder company deposited as cash items in the-bank on December 12, 1912, three checks of its customers aggregating $1,505.24. The company had the right to check against its deposit account. On the same day the bank forwarded the three checks to its correspondent bank at Cincinnati, where they were credited in like manner in favor of the .sending…