Reed v. Barnett Nat. Bank of Jacksonville
| Citation | 250 F. 983 |
| Decision Date | 08 April 1918 |
| Docket Number | 3210. |
| Parties | REED v. BARNETT NAT. BANK OF JACKSONVILLE. In re LONG. |
| Court | United States Courts of Appeals. United States Court of Appeals (5th Circuit) |
Sam R Marks, of Jacksonville, Fla. (Marks, Marks & Holt, of Jacksonville, Fla., on the brief), for petitioner.
F. P Fleming, Jr., and J. S. Diver, both of Jacksonville, Fla for respondent.
Before WALKER and BATTS, Circuit Judges, and GRUBB, District Judge.
The following state of facts was shown by a petition filed by the trustee of the estate of Dennis F. Long, a bankrupt:
An involuntary petition in bankruptcy was filed against Long on April 5, 1917. Prior to and after the filing of the petition in bankruptcy Long had a deposit account with the Barnett National Bank of Jacksonville, and that bank was and is a creditor of Long, holding his note for $9,750, which became due on April 1, 1917. This note was not paid at maturity, and the bank was then advised of Long's insolvency, and was importuned by him to assist in the refinancing of his business. On April 1st there was a balance of $1,198.50 to Long's credit in his deposit and checking account with the bank. Between April 1st and April 10th Long deposited with the bank, to be credited on that account, sums aggregating $4,335.57, and between those dates checks of Long aggregating $2,830.09, drawn against that account, were presented to and paid by the bank; $1,483.12 of such checks being presented and paid by the bank prior to the filing of the petition in bankruptcy, and $1,346.97 of such checks were presented and paid after the filing of such petition, the actual balance to the credit of Long on his deposit account at the time the petition was filed being $1,266.22. The bank refused to honor any checks of the bankrupt after April 9th, and on April 12th, the day before the adjudication of bankruptcy, it applied as an offset against the note of the bankrupt held by it the balance of $2,703.98 then remaining to Long's credit on his deposit account. By a summary proceeding the trustee sought an order requiring the bank to pay to him the last-mentioned amount. The court sustained the objection made on behalf of the bank to the maintenance of the summary proceeding resorted to. Its action to this effect is presented for review.
It is to be noted that more than the amount standing to the bankrupt's credit at the time the petition in bankruptcy was filed was paid on checks presented after that time. This...
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