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CHASE NAT. BANK v. FIDELITY & DEPOSIT CO. OF MARYLAND

No. 364.

79 F.2d 84 (1935)

CHASE NAT. BANK OF CITY OF NEW YORK v. FIDELITY & DEPOSIT CO. OF MARYLAND.

Circuit Court of Appeals, Second Circuit.

July 22, 1935.

Attorney(s) appearing for the Case

Thomas E. White, of New York City (Joseph F. Murray and Thomas E. White, both of New York City, of counsel), for appellant.

Mudge, Stern, Williams & Tucker, of New York City (H. G. Pickering, Stuart H. Steinbrink, and Paul D. Miller, all of New York City, of counsel), for appellee.

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

SWAN, Circuit Judge.

Toward the end of the year 1926 the plaintiff (hereafter referred to at times as the Chase Bank) loaned $600,000 to Seminole County Bank, taking as security for the borrower's notes certificates of indebtedness to the same amount of the city of Sanford, Fla., payable to the borrower and by it indorsed. Thereafter the notes fell due, the Seminole County Bank became insolvent, and the Chase Bank made a settlement with its liquidator (with the consent...

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