First Trust & Savings Bank of Oneida v. Kent

HAMILTON, Circuit Judge.

This is an appeal from a judgment dismissing the petition of appellant, First Trust & Savings Bank of Oneida, Tennessee, against appellee, Paul J. Kent, receiver of the Chattanooga National Bank, wherein appellant seeks to recover from appellee part of the proceeds of a draft or bill of exchange.

In February, 1933, the exact date not shown in the record, the Cincinnati. New Orleans, Texas & Pacific Railway Company, in payment of taxes, drew a draft for $50,-687.01 upon its treasurer in favor of Scott County, Tennessee. According to the terms of the instrument, it would…