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STANDARD INV. CO. v. TOWN OF SNOW HILL, N. C.

No. 3853.

78 F.2d 33 (1935)

STANDARD INV. CO. v. TOWN OF SNOW HILL, N. C., et al.

Circuit Court of Appeals, Fourth Circuit.

June 3, 1935.

Attorney(s) appearing for the Case

H. G. Hedrick, of Durham, N. C. (C. W. Hall, of Durham, N. C., on the brief), for appellant.

Larry I. Moore, of New Bern, N. C., and K. A. Pittman, of Snow Hill, N. C. (Geo. W. Edwards, of Snow Hill, N. C., on the brief), for appellees.

Before PARKER, NORTHCOTT, and SOPER, Circuit Judges.

PARKER, Circuit Judge.

This is an appeal from a suit commenced by the Standard Investment Company against the town of Snow Hill, N. C., and the receiver of the failed National Bank of Snow Hill, to recover certain bonds pledged by the bank as security for the deposit of the town, or in lieu of this relief, to have a preferred claim for the amount of the bonds allowed against the assets of the bank in the hands of its receiver. The court below found that the town was...

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