Jefferson Standard Life Ins. v. Wisdom

SIBLEY, Circuit Judge.

Jefferson Standard Life Insurance Company sought relief in equity against the receiver of First National Bank of Brookhaven, Miss., on account of a collection made by the bank which had not been paid over at its failure, lost its ease, and appeals. The facts are not disputed, and are these: The insurance company at Greensboro, N. C., having no previous relations with the bank, sent it a draft with these instructions: “Kindly collect the draft and remit this office in New York funds for the full amount, any necessary exchange being borne by the drawee.” The collection was…