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

No. 11238.

214 F.2d 320 (1954)

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

United States Court of Appeals, Third Circuit.

Decided June 28, 1954.

Rehearing Denied July 20, 1954.

Attorney(s) appearing for the Case

Israel Packel, Philadelphia, Pa. (Speiser, Satinsky, Gilliland & Packel, Philadelphia, Pa., Pugh, Knapp & Miller, Zanesville, Ohio, MacCoy, Evans & Lewis, Montgomery, McCraken, Walker & Rhoads, Saul, Ewing, Remick & Saul, Philadelphia, Pa., on the brief), for appellant.

Arthur Littleton, Philadelphia, Pa. (Thomas B. K. Ringe, John R. McConnell, J. Wesley Oler, Morgan, Lewis & Bockius, Philadelphia, Pa., on the brief), for appellee.

Before GOODRICH, KALODNER and HASTIE, Circuit Judges.

GOODRICH, Circuit Judge.

This case presents the often recurring situation of two people who, doing business in the ordinary course, have been fooled by a swindler. The swindler disappears or goes to jail. Which of the two parties is to bear the loss his rascality has occasioned?

The trial court made very full findings of fact on the history of the dealings among the parties and also the facts of the immediate transactions...

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