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CITY COUNCIL OF CHARLESTON, S. C. v. ELLIOTT

No. 3783.

73 F.2d 920 (1934)

CITY COUNCIL OF CHARLESTON, S. C., v. ELLIOTT et al. KRUPNICK v. PEOPLE'S STATE BANK OF SOUTH CAROLINA et al.

Circuit Court of Appeals, Fourth Circuit.

November 19, 1934.

Attorney(s) appearing for the Case

J. Waties Waring, of Charleston, S. C., for appellant.

E. W. Mullins and Christie Benet, both of Columbia, S. C. (Benet, Shand & McGowan and Nelson & Mullins, all of Columbia, S. C., on the brief), for appellees.

Before PARKER, NORTHCOTT, and SOPER, Circuit Judges.

PARKER, Circuit Judge.

This is an appeal by the city council of Charleston, S. C., from a decree, entered in the receivership proceedings of the failed People's State Bank of South Carolina, denying priority to a claim for deposits made with the bank to meet tax anticipation notes executed by the city. The claim of the city was that the deposits were trust funds in the hands of the bank; that they augmented the assets which passed into the hands of the receivers;...

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