MERCHANTS BANK v. SEXTON

No. 287.

228 U.S. 634 (1913)

MERCHANTS NATIONAL BANK OF NEW YORK AND BANQUE COMMERCIALE DE BALE v. SEXTON, TRUSTEE IN BANKRUPTCY OF KESSLER & COMPANY.

Supreme Court of United States.

Decided May 26, 1913.


Attorney(s) appearing for the Case

Mr. George Zabriskie and Mr. Henry G. Gray for appellants submitted.

Mr. Wallace MacFarlane, with whom Mr. Samuel J. Rosensohn was on the brief, for appellee.


MR. CHIEF JUSTICE WHITE delivered the opinion of the court.

In July, 1904, Kessler & Company, bankers, contracted to give the R.B. McLea Company, engaged in business as importers and jobbers of dry goods, a line of credit up to $50,000 and in addition to advance money on the invoice price of goods imported and for the purpose of paying the duties thereon. The advances, it was agreed, should be evidenced by negotiable notes of the company in such amounts and to...

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