First National Bank & Trust Co. v. First National Bank

Opinion op the Court by

Judge .Stites —

Affirming.

This is an appeal from a judgment of the Fayette circuit court sitting in equity. On the morning of November 16, 1928, the Perry Bank & Trust Company of Hazard (hereinafter called the Perry Bank) was taken over by the state banking commissioner as insolvent. The last day that it remained open (November 15, 1928) was pay day for the Louisville & Nashville Railroad Company employees, a number of whom resided in Hazard. The railroad company paid its employees by drafts drawn on its treasurer in Louisville, Ky., by its comptroller, countersigned by…