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LOWDEN v. N.W. NATIONAL BANK

No. 743.

298 U.S. 160 (1936)

56 S.Ct. 696

80 L.Ed. 1114

LOWDEN ET AL., TRUSTEES, v. NORTHWESTERN NATIONAL BANK & TRUST CO.

Supreme Court of United States.

Decided April 27, 1936.

Attorney(s) appearing for the Case

Messrs. Edward S. Stringer and Marcus L. Bell, with whom Messrs. Alexander E. Horn, Daniel Taylor, and Otis F. Glenn were on the brief, for Lowden et al., Trustees.

Mr. Claude G. Krause for Northwestern National Bank & Trust Co.

By leave of Court, Mr. Garfield E. Breese filed a brief as amicus curiae urging an affirmative answer to all three of the questions certified.

MR. JUSTICE CARDOZO delivered the opinion of the Court.

On June 7, 1933, the Chicago, Rock Island and Pacific Railway Company filed in the United States District Court for the Northern District of Illinois its petition for reorganization under § 77 of the Bankruptcy Act. 11 U.S.C. § 205.* At that time the railroad had to its credit the sum of $36,908.72 in a checking account with the...

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