Eifel v. Veigel

Taylor, C.

The defendant bank was closed in August, 1922, and its affairs are being wound up by the superintendent of banks. The question presented is whether plaintiff is simply a general creditor of the bank or is entitled to a preference right of payment.

The court found as a fact that plaintiff was the owner and holder of a promissory note for the sum of $1,700 executed by one Harold Myhre and payable to the Argyle Machine & Iron Works or order, which note had been sold, transferred and delivered to plaintiff by the payee in December, 1920; and that plaintiff “deposited the said note for…