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RECONSTRUCTION FINANCE CORP. v. FARMERS STATE BANK

No. 7787.

80 F.2d 978 (1936)

RECONSTRUCTION FINANCE CORPORATION v. FARMERS STATE BANK OF SAN BENITO, TEX., et al.

Circuit Court of Appeals, Fifth Circuit.

January 8, 1936.

Attorney(s) appearing for the Case

J. P. Dreibelbis, of Dallas, Tex., for appellant.

H. Grady Chandler and Ocie Speer, both of Austin, Tex., for appellees.

Before SIBLEY and HUTCHESON, Circuit Judges, and STRUM, District Judge.

STRUM, District Judge.

On March 14, 1932, appellant Reconstruction Finance Corporation loaned Farmers State Bank, a banking corporation under the laws of Texas, $45,000, evidenced by the bank's note of that date, on which there remains unpaid $45,259.91, principal and interest. The note was secured by collateral having a face value of $90,000, the actual value of which is unascertained but admittedly less than $90,000. On May 16, 1932, prior to maturity of said note...

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