MURRAH, Circuit Judge.
The sole question presented by this appeal is whether the intentional destruction of negotiable instruments by the holder, believing them to be valueless, works a cancellation and discharge of the debt evidenced thereby. The facts are not in dispute.
In October 1939, Florence K. Twombly was the owner of sixteen bonds of a series issued May 1, 1912, by the Muskogee Electric Traction Company. At that time the bonds had long since been...
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