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CENTRAL STATE BANK v. UNITED STATES FIDELITY & G. CO.

No. 4640.

9 F.2d 326 (1925)

CENTRAL STATE BANK OF CORSICANA, TEX., v. UNITED STATES FIDELITY & GUARANTY CO. et al.

Circuit Court of Appeals, Fifth Circuit.

November 25, 1925.

Attorney(s) appearing for the Case

Jos. Manson McCormick and Paul Carrington, both of Dallas, Tex. (J. S. Callicutt, of Corsicana, Tex., Etheridge, McCormick & Bromberg, of Dallas, Tex., on the brief), for appellant.

Walter F. Seay and Thos. T. Holloway, both of Dallas, Tex. (Seay, Seay, Malone & Lipscomb, of Dallas, Tex., on the brief), for appellees.

Before WALKER, BRYAN, and FOSTER, Circuit Judges.

BRYAN, Circuit Judge.

The board of school trustees of the city of Corsicana, Tex., let a contract for the erection of a high school building, and the contractor erected the building, but upon its completion he owed $38,089.15 for material used in its construction, and was insolvent. The school board withheld a balance of $32,313.18, which was accumulated by the retention of 15 per cent. of the contract price pursuant to the following provisions of the contract:

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