Hamilton National Bank v. Hamilton Trust & Savings Bank

The Simplex Battery Company, a corporation, manufactured batteries. Its plant was located in Alton Park near Chattanooga, and it owned the land, building and certain machinery, equipment, supplies, etc., located therein. Mr. W. P. Ferguson was the president, and Mr. John R. Evans was the secretary.

In the early part of April, 1920, the Battery Company was indebted to the Hamilton National Bank in a sum slightly in excess of «$6,100. This indebtedness was evidenced by five promissory notes upon which Mr. Ferguson was surety. It was necessary for the Battery Company to borrow more money., but…