Andrew v. Savings Bank of Larchwood

The Citizens National Bank & Trust Company of Sioux Falls is a national banking corporation, and the Savings Bank of Larchwood a state banking corporation under the laws of the state of Iowa.

On December 12, 1930, the Sioux Falls bank was the holder in due course of checks in the amount of $1121.2.1, drawn by depositors of the Savings Bank of Larchwood. These checks were forwarded directly to the Larchwood Bank, and on receipt of same, it charged the checks to its respective depositors’ accounts, and on December 13th following, drew a draft, in favor of the Sioux Falls Bank, on the Live Stock…