Federal Reserve Bank of Richmond v. Early

PARKER, Circuit Judge.

This action was instituted in the court below by the receiver of the Farmers’ & Merchants’ Bank of Lake City, S. C., to recover of the Federal Reserve Bank of Richmond, Va., a reserve deposit balance of $22,088.48 alleged to be owing by the Reserve Bank to the Farmers’ & Merchants’ Bank at the time of the failure of the latter, and also to recover the sum of $4,115.15, being the surrender value; with accrued dividends, of 78 shares of stock in the Reservo Bank owned by the Farmers’ & Merchants’ Bank at the time of its failure. The Reserve Bank admitted the deposit…