WOLVERTON, District Judge.
At the time of the transactions hereinafter noted, the Federal Reserve Bank of San Francisco (to be, for convenience, called the bank) was the holder, by indorsement of McCornick & Co., Bankers, of three promissory notes, aggregating $40,000, of which Inter-Mountain Milling Company was the maker, bearing date, respectively, February 28, March 7, and March 9, 1921. The Pacific Grain Company, by J. E. MacAlpine, its authorized agent, wrote...
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