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SOUTHERN RY. CO. v. ELLIOTT

No. 4102.

86 F.2d 294 (1936)

SOUTHERN RY. CO. v. ELLIOTT et al. KRUPNICK v. PEOPLES STATE BANK OF SOUTH CAROLINA et al.

Circuit Court of Appeals, Fourth Circuit.

November 9, 1936.

Attorney(s) appearing for the Case

Frank G. Tompkins, of Columbia, S. C., for appellant.

H. L. Erckmann, of Charleston, S. C., and E. W. Mullins, of Columbia, S. C. (Nelson, Mullins & Grier and Benet, Shand & McGowan, all of Columbia, S. C., on the brief), for appellees.

Before PARKER, NORTHCOTT, and SOPER, Circuit Judges.

PARKER, Circuit Judge.

This is a proceeding in the receivership of the failed Peoples State Bank of South Carolina, the purpose of which is to require the receivers of that bank to offset the deposit of the Southern Railway Company against its indebtedness on certain invoices for lumber sold it by the Whitaker-Thompson Lumber Company. These invoices had been assigned by the lumber company to the failed bank as collateral security for notes executed for money borrowed...

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