First Nat. Bank of Montgomery v. Armstrong

JacKSON, J.,

(orally.') The material facts of this case are the following: On the 16th June, 1887. the Montgomery Oil-Works drew its draft on the American - Cotton-Oil Company of Cincinnati, for the sum of $2,379.56, in favor of the First National Bank of Montgomery, Ala. Tlie payee forwarded the draft to the Fidelity National Bank.for collection, under a special indorsement thereof, as follows: “Pay to Ammi Baldwin, cashier, or order, for collection, for account of the First National Bank of Montgomery, Ala.” The draft so indorsed was received by the Fidelity National Bank, at Cincinnati, on…