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FIRST TRUST & SAV. BANK v. FIDELITY-PHILADELPHIA TR. CO.

Civ. A. No. 12264.

112 F.Supp. 761 (1953)

FIRST TRUST & SAVINGS BANK OF ZANESVILLE, OHIO, v. FIDELITY-PHILADELPHIA TRUST CO.

United States District Court E. D. Pennsylvania.

May 28, 1953.

Attorney(s) appearing for the Case

Pugh, Knapp & Miller, Zanesville, Ohio, Speiser, Satinsky, Gilliland & Packel, Philadelphia, Pa., for plaintiff.

J. Wesley Oler, John R. McConnell, Arthur Littleton, Philadelphia, Pa., Morgan, Lewis & Bockius, Philadelphia, Pa., of counsel, for defendant.

CLARY, District Judge.

Plaintiff, The First Trust and Savings Bank of Zanesville, Ohio, (which for brevity will be hereinafter referred to as "Zanesville") has brought this action to recover from the defendant, Fidelity-Philadelphia Trust Company (hereinafter referred to as "Fidelity"), the sum of $82,000 with interest and costs. The basis of the action is the purchase by Zanesville in July of 1950 of four spurious or worthless collateral notes from Philadelphia Acceptance...

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