Jernigan, Bank Commissioner v. Browne

This is a suit upon a promissory note, executed by appellee to Faulkner County Bank & Trust Company, on June 19, 1930, for $4,411.75. As collateral for this note there was pledged certain shares of capital stock of the Bank of Conway and of the Conway Compress Company. The Faulkner County Bank borrowed a large sum of money'from the Bankers Trust .Company of Little Rock, and pledged to it, with other securities, the above-mentioned note of appellee. Shortly thereafter the Faulkner County Bank was taken over by the State Bank Commissioner for liquidation, and ..the Bankers Trust Company began…