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SECRETARY OF BANKING OF PENNSYLVANIA v. ALKER

Nos. 10002, 10015, No. 10120.

183 F.2d 429 (1950)

SECRETARY OF BANKING OF PENNSYLVANIA v. ALKER et al. (three cases). Appeal of ALKER.

United States Court of Appeals Third Circuit.

Decided July 25, 1950.

Rehearing Denied August 29, 1950.

Attorney(s) appearing for the Case

Edwin Hall, 2d, Philadelphia, Pa. (A. D. Bruce, Francis E. Walter, Harry J. Alker, Jr., all of Philadelphia, Pa., on the brief), for appellants.

Allen S. Olmsted, 2d, Philadelphia, Pa. (Edwin C. Emhardt, Philadelphia, Pa., on the brief), for appellee.

Before McLAUGHLIN and KALODNER, Circuit Judges, and FEE, District Judge.

McLAUGHLIN, Circuit Judge.

The present appeals arise out of a suit on a demand note of appellant, Alker, Jr., to Integrity Trust Company of Philadelphia. The note, with its collateral, was assigned to Federal Deposit Insurance Corporation (FDIC). That concern called the note in November, 1942, and on January 20, 1943, sold the collateral. There was a deficit for which FDIC sued Alker, Jr. That action was tried and resulted...

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