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WEBB v. AMERICAN SURETY CO. OF NEW YORK

No. 8155.

88 F.2d 171 (1937)

WEBB v. AMERICAN SURETY CO. OF NEW YORK.

Circuit Court of Appeals, Fifth Circuit.

February 16, 1937.

Attorney(s) appearing for the Case

B. T. Sauls, of St. Petersburg, Fla., for appellant.

H. C. Tillman and G. L. Reeves, both of Tampa, Fla., for appellee.

Before SIBLEY, HUTCHESON, and HOLMES, Circuit Judges.

HUTCHESON, Circuit Judge.

This suit was brought by the receiver of a failed national bank, by bill in equity to correct a preferential situation arising out of payments in liquidation of county funds on deposit with the bank when, on June 7, 1930, it closed. As the bill alleged it, this was the way the preference came about:

As security for the repayment of deposits of county funds, the bank had pledged municipal bonds of the principal value of $25,000, and...

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