MORTON, Circuit Judge.
I will deal first with facts, and then with the law, and then state my conclusions. The facts are for the most part not in serious controversy. On the 29th of September, 1931, when the loan on the Ganley note was made by the Federal National Bank, the defendant Mulloney was president of that bank and exercised general control of its affairs. Though the voting trust gave him control over the election of officers by the shareholders, the directors...
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