First Nat. Bank of Ruston v. Canal Bank Trust Co.

ODOM, Justice.

The defendants prosecute this appeal from a judgment ordering the Canal Bank & Trust Company, now in liquidation, to permit plaintiff to repurchase a nonnegotiable New Orleans Clearing House Association, trustee, participation certificate in a loan to the state of Louisiana board of liquidation of the state debt, and to accept in full payment therefor the amount which plaintiff had on deposit in the Canal Bank & Trust Company and a tender of the difference between the amount on deposit and the par value of the certificate. In the bank’s answer it was alleged that the certificate…