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FIRST NAT. BANK OF S.C. OF COLUMBIA v. GLENS FALLS INS. CO.

No. AC/441.

197 F.Supp. 264 (1961)

FIRST NATIONAL BANK OF SOUTH CAROLINA OF COLUMBIA, Plaintiff, v. GLENS FALLS INSURANCE COMPANY, Defendant.

United States District Court E. D. South Carolina, Columbia Division.

September 12, 1961.

Attorney(s) appearing for the Case

Boyd, Bruton & Lumpkin, W. C. Boyd, Columbia, S. C., for plaintiff.

Francis R. Fant, Anderson, S. C., for defendant.

WYCHE, District Judge (sitting by designation).

This case was tried before me without a jury upon a stipulation of facts, from which it appears that plaintiff bank made a series of loans to Shirtmaster Company, Inc. Each loan was evidenced by a promissory note signed by Joseph Kaplan, Secretary and Treasurer of Shirtmaster. Each loan was secured by a written assignment, incorporated in the note, of accounts receivable. Each of the accounts receivable was evidenced...

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