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ABERLY v. CRAVEN COUNTY

Nos. 3580, 3595.

70 F.2d 52 (1934)

ABERLY et al. v. CRAVEN COUNTY, N. C. CRAVEN COUNTY, N. C., v. NATIONAL BANK OF NEW BERN et al.

Circuit Court of Appeals, Fourth Circuit.

April 3, 1934.

Attorney(s) appearing for the Case

Thos. D. Warren and L. I. Moore, both of New Bern, N. C. (Moore & Dunn and Warren & Warren, all of New Bern, N. C., on the brief), for Craven County.

R. E. Whitehurst and A. D. Ward, both of New Bern, N. C. (R. A. Nunn, H. P. Whitehurst, and C. L. Abernethy, all of New Bern, N. C., on the brief), for National Bank of New Bern, Griffin, Schumacher, and stockholders of National Bank of New Bern.

W. B. Rouse, of New Bern, N. C., for Aberly and Hargett.

Before PARKER and SOPER, Circuit Judges, and WILLIAM C. COLEMAN, District Judge.

PARKER, Circuit Judge.

The National Bank of New Bern, which we shall refer to hereafter as the old bank, found itself in financial difficulties in the early part of 1929, and on March 20th of that year entered into a contract with the First National Bank of New Bern, which we shall refer to as the new bank. This new bank was organized to take over the business of the old; and from one of the records before us it appears that its capital stock was paid for by funds...

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