PARKER, Circuit Judge.
This action was instituted in the court below by the Reconstruction Finance Corporation against the defendant, Carl W. Bell, to recover on certain promissory notes aggregating $24,300. These notes had been executed by Bell to the North Carolina Bank & Trust Company and had been indorsed and transferred by it to the Reconstruction Finance Corporation, which held them as collateral security at the time of the institution of the action. While...
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