Florida Asphalt Pavement Mfg. Co. v. Federal Reserve Bank of Atlanta

FOSTER, Circuit Judge.

These two cases were argued together, present the same questions for decision, and may be conveniently disposed of by one opinion. In each case the declaration discloses the following material facts: The Florida Asphalt Block Paving Company, a corporation, held six notes of other corporations, aggregating about $59,600 face value; acquired for value before maturity, and indorsed and discounted them with the Citizens’ Bank & Trust Company of Tampa, Fla. That bank in turn rediscounted the notes with the Federal Reserve Bank of Atlanta for value and before maturity.…