Cooper v. Fidelity Trust Co.

On appeal from decree of sitting Justice denying priority of claim. Briefly, the facts are that Edward K. Leighton, the petitioner, left for collection with the Peoples Ticonic National Bank of Waterville (hereafter called Ticonic Bank) two City of Omaha bonds, $1000 each, due March 1, 1933. No credit was given to the petitioner at the time of the deposit. In accordance with its established practice and usage, the Ticonic Bank forwarded the bonds to the New York Trust Company for collection with instructions to credit the proceeds to the Fidelity Trust Company for its account. The bonds were…