FRANK v. ATWOOD

No. 5500.

75 F.2d 918 (1935)

FRANK v. ATWOOD.

Circuit Court of Appeals, Third Circuit.

February 19, 1935.


Attorney(s) appearing for the Case

Weil, Christy & Weil, of Pittsburgh, Pa. (A. Leo Weil and A. Leo Weil, Jr., both of Pittsburgh, Pa., of counsel), for appellant.

John G. Frazer and Reed, Smith, Shaw & McClay, all of Pittsburgh, Pa., for appellee.

Before BUFFINGTON, WOOLLEY, and THOMPSON, Circuit Judges.


WOOLLEY, Circuit Judge.

William K. Frank, L. B. Foster and S. E. Bramer, personal friends and associates, embarked in speculation. They obtained funds for the purpose through a joint note discounted by The Bank of Pittsburgh, N. A. Frank and Foster put up all the collateral. The loan was reduced from time to time until, early in 1931, the financial clouds having darkened, Frank and Foster desired to get off the joint note, which then stood at $199,942.93, and split...

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