Deposit Guaranty Bank & Trust Co. v. Luke

E. B. Luke and twenty others, resident citizens of Oklahoma and Texas, nonresidents of this state, exhibited their bill in the chancery court of Hinds county against the Deposit Guaranty Bank & Trust Company and J. I. Magee, seeking to recover money paid by each of them to the Deposit Guaranty Bank & Trust Company, hereinafter called the bank, and allowed by it to be withdrawn and applied to the personal account of J. I. Magee. The bill charged that Magee, as a promoter, sold them syndicate certificates which were in fact stock certificates, and that complainants had deposited their money…