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CITY OF SANFORD, FLA. v. CHASE NAT. BANK OF CITY OF N. Y.

No. 394.

50 F.2d 400 (1931)

CITY OF SANFORD, FLA., v. CHASE NAT. BANK OF CITY OF NEW YORK.

Circuit Court of Appeals, Second Circuit.

June 8, 1931.

Attorney(s) appearing for the Case

Charles A. Boston, of New York City (James H. Caldwell, of New York City, Lucien H. Boggs, of Jacksonville, Fla., and Mark F. Hughes, of New York City, of counsel), for appellant.

Rushmore, Bisbee & Stern, of New York City (Henry Root Stern, H. G. Pickering, James F. Sandefur, and Bertram F. Shipman, all of New York City, of counsel), for appellee.

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

MANTON, Circuit Judge.

This suit seeks the surrender and cancellation of three alleged certificates of indebtedness of the plaintiff, a municipality of Florida, in the amount of $600,000, because, it is claimed, they were executed without authority, by the mayor and city clerk, and were negotiated by the mayor without authority and without consideration. Defendant, a New York City bank, claims it holds these certificates as collateral for two notes issued by the Seminole...

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