Bell Nat. Bank Pineville's Rec. v. Ellison

Opinion op the Court by

Hobson, Commissioner

Affirming.

The receiver of the Bell National Bank of Pine-ville, Ky., brought this action on April 23, 1931, against W. D. Ellison to recover on two notes executed to the bank by him March 1, 1929, each for $5,000, subject to. certain credits on the first note; also a note for $3,000,. of date March 30, 1929. He filed answer, set-off, and. counterclaim, in which, among other things, he stated these facts:

The Blue Star Coal Company owned certain mining property in Bell county, and in 1928 was heavily in. debt. Its stockholders and officers were the…