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BANK OF AMERICA NATIONAL TRUST & SAV. ASS'N v. ROCCO

Nos. 11526, 11533, 11536.

226 F.2d 297 (1955)

BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION v. Arthur A. ROCCO, Gilbert S. Parnell, First National Bank in Indiana and Federal Reserve Bank of Cleveland. Appeal of FIRST NATIONAL BANK IN INDIANA. Appeal of BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION. Appeal of Gilbert S. PARNELL.

United States Court of Appeals Third Circuit.

Reargued June 6, 1955.

Decided October 12, 1955.

Attorney(s) appearing for the Case

Harvey A. Miller, Jr., Pittsburgh, Pa. (Harvey A. Miller, Miller & Miller, Pittsburgh, Pa., Tomb & Tomb, Indiana, Pa., on the brief), for First National Bank in Indiana.

John M. Duggan, Jr., Pittsburgh, Pa., for Gilbert S. Parnell.

Robert L. Kirkpatrick, Pittsburgh, Pa. (T. W. Pomeroy, Jr., Robert L. Becker, Jr., Kirkpatrick, Pomeroy, Lockhart & Johnson, Pittsburgh, Pa., on the brief), for Bank of America Nat. Trust and Savings Ass'n.

Before BIGGS, Chief Judge, and MARIS, GOODRICH, McLAUGHLIN, KALODNER, STALEY, and HASTIE, Circuit Judges.

STALEY, Circuit Judge.

This was an action brought by the plaintiff against four defendants to recover the value of certain bonds which allegedly were stolen from the bank. These bonds came into the possession of defendant Rocco. They were presented by defendant Parnell, on behalf of Rocco, for collection to the First National Bank in Indiana, Indiana, Pennsylvania, and by it forwarded to the Federal Reserve Bank of Cleveland. This bank cashed the bonds, paid the First...

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