Goshorn v. Murray

Citations

• 197 F. 407
• 1912 U.S. Dist. LEXIS 1430

Syllabus

<p>1. Banks and Banking (§ 167*) — Insolvency—Deposits—Checks—Relation oe Bank.</p> <p>Where complainant deposited a number of checks and vouchers payable to him in a bank, duly indorsed in blank, and the bank credited plaintiff's account with the amount thereof, but there was no agreement that complainant might draw against them until they were collected, and the bank was notified thereof, the hank, prior to Such collection and' notice, did not become the debtor of complainant hut was a mere agent to collect, and having passed into the hands of the Comptroller of the' Currency before notice by other banks to which the items were sent for collection that the collections had been made and the proceeds credited to the insolvent bank’s account, and the proceeds of the collections having been thereafter paid to the bank’s receiver, complainant was entitled to recover the same as a trust fund from the receiver.</p> <p>[Ed. Note. — For other cases, see Banks and Banking, Cent Dig. §§, 579-582; Dec. Dig. § 167*</p> <p>Right to proceeds of collection on insolvency of collecting bank, see-note to Western German Bank v. Norvell, 69 C. C. A. 333.]</p> <p>2. Banks and Banking (§ 285*) — Insolvency—Knowledge by Officers— Receipt of Deposits.</p> <p>Evidence held insufficient to show that the officers of a national bank . had knowledge that the bank was irretrievably insolvent at the time the bank accepted a deposit of certain cheeks and vouchers from complainant.</p> <p>[Ed. Note. — For other cases, see Banks and Banking, Cent. Dig. § 1088; Dec. Dig. § 285.*]</p>