First National Bank of Elmer v. Money

On or prior to January 1st, 1923, Walter Nelson, one of the defendants, and one Albert C. Surran, partners in business, trading under the name of Nelson Surran, being desirous of securing loans from the complainants, executed and delivered to it certain promissory notes.

In the course of business Nelson Surran received from their customers notes to their order for merchandise delivered; these notes were given to the bank, and from the testimony it is difficult to determine whether the business notes were deposited as collateral for the firm's notes, or whether the firm's notes were collateral…