First National Bank v. Lafayette Trust Co.

My first inclination in this case was to grant no allowance, and for the following reasons:

The parties to the suit are financial institutions which had sustained heavy loss through the transactions of the Senior Jenkins who was an officer in both. It was right that each should make, every effort to recover this loss for the benefit of depositors and stockholders. The First National Bank was as much justified in taking an assignment of the mortgage in question and seeking, to obtain its possession as the Lafayette Trust Company was in endeavoring to hold on to it. Both were seeking property of…