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LANE v. SCHOOL DIST. OF CITY OF MONESSEN

No. 7611.

120 F.2d 479 (1941)

LANE v. SCHOOL DIST. OF CITY OF MONESSEN.

Circuit Court of Appeals, Third Circuit.

May 28, 1941.

Attorney(s) appearing for the Case

Robert F. Barnett, of Pittsburgh, Pa., for appellant.

G. Walter Smith, of Pittsburgh, Pa. (George D. Wick, of Pittsburgh, Pa., George H. Frich, Jr., of Monessen, Pa., and Campbell, Wick, Houck & Thomas, of Pittsburgh, Pa., on the brief), for appellee.

Before MARIS, CLARK, and GOODRICH, Circuit Judges.

GOODRICH, Circuit Judge.

The problem in this action by the receiver of an insolvent national bank against the defendant, a Pennsylvania school district, arises from the following set of facts:

The school district was a depositor in the national bank. This banking house was in Pennsylvania. The surety company which guaranteed the deposit of this public corporation pursuant to notice, withdrew its guarantee. The officers of the bank in July, 1931 agreed with...

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