In Re Canal Bank & Trust Co.

BRUNOT, Justice.

The intervener is a nonresident corporation, organized under the laws of Mississippi, and domiciled and doing business in that state. On December 18, 1932, it entered into a written agreement with the Canal Bank & Trust Company for the sale to said bank of certain described bonds for $75,000, the par value thereof, and for the repurchase of said bonds, on or before March 15, 1933, for the same price plus interest thereon at the rate of 5% per cent, per annum. To guarantee its obligation to repurchase said bonds, intervener deposited with the Canal Bank & Trust Company other…