Temple v. Carroll

Albert, C.

On the 27th day of May, 1901, the defendant Carroll made a check on the People’s State Bank of Gothenburg, in favor of “L. J. Morton, Agt.” On the same day, about 4:30 P. M., and after banking hours, Morton indorsed and transferred the check to the State Bank of Gothenburg. It was the practice of the two banks to “clear” between 3 and 4 o’clock each day, that is, representatives of the two banks would meet and take up the checks held by the one against the other. About 8:30 A. M., the day following the making and transfer of the check, the president of the State Bank, having reason…