McKinney Grain Co. v. Bank of Cotton Valley

This case was submitted for decision on an agreed statement of facts, from which it appears that plaintiff, a resident of McKinney, Texas, deposited in the Central State Bank of that place for collection two drafts, one for $850.38 and the other for $1,011.22, drawn by it on Cole Brothers of Cotton Valley, Louisiana.

To each of these drafts was attached a bill of lading for a carload of corn.

The bills of lading were issued to shipper’s order, and the bank was instructed by the forwarding bank not to surrender them unless and until the drafts were paid.

The Bank of Cotton Valley, in violation of…