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ROYAL CARD & PAPER CO. v. DRESDNER BANK

No. 246.

27 F.2d 791 (1928)

ROYAL CARD & PAPER CO. v. DRESDNER BANK.

Circuit Court of Appeals, Second Circuit.

August 20, 1928.

Attorney(s) appearing for the Case

Spiro & Abrams, of New York City (Edmund L. Mooney and Wilber W. Chambers, both of New York City, of counsel), for plaintiff in error.

Sullivan & Cromwell, of New York City (E. H. Sykes, of New York City, of counsel), for defendant in error.

Before MANTON, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

SWAN, Circuit Judge.

In order to facilitate the purchase of goods in Germany, plaintiff procured from Irving National Bank of New York a letter of credit running to Samuel Baron, or assigns, drafts thereunder to be drawn against documents for merchandise to be shipped to New York not later than August 31, 1920. On February 28, 1920, Baron assigned this letter of credit to Gebruder Kratzmann, a Hamburg commission firm, and indorsed upon the face thereof:

"Assigned...

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