PENNSYLVANIA CO., ETC. v. FEDERAL RESERVE BANK

No. 20830.

30 F.Supp. 982 (1939)

PENNSYLVANIA CO. FOR INSURANCES ON LIVES AND GRANTING ANNUITIES, to Use of ROYAL INDEMNITY CO. v. FEDERAL RESERVE BANK OF PHILADELPHIA.

District Court, E. D. Pennsylvania.

September 25, 1939.


Attorney(s) appearing for the Case

F. A. Van Denbergh, Jr., Francis H. Bohlen, Jr., Earl G. Harrison, and Saul, Ewing, Remick & Saul, all of Philadelphia, Pa., for plaintiff.

James McMullan, Charles J. Biddle, and Drinker, Biddle & Reath, all of Philadelphia, Pa., for defendant.


KIRKPATRICK, District Judge.

This is an action by a drawee bank against a collecting bank to recover money paid to the latter upon a check on which the indorsement of the payee is alleged to have been forged. The case was tried to the Court, jury trial having been waived. The following is a brief summary of the facts:

Financial Independence Founders, Inc. (referred to as "F. I. F." or "the depositor"), had a bank account with the Pennsylvania Company, the...

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