Gotta v. Peoples State Bank

Paul N. Massie and Oscar Anderson, in order to finance their lumber operation, borrowed on their notes from the Peoples State Bank of Bessemer, Michigan, which they secured from time to time by assignments, having the effect of bills of sale, of the timber and products on the operation. At the end of the winter the work came to a standstill, owing to the bank’s refusal to extend further credit. Considerable mining timber and tie 'cuts remained either piled up along the roads or still lying on the ground. Massie claims that he saw Mr. Hagerman, cashier and vice-president of the bank, who…