112 Ga. 947 | Ga. | 1901
The Southern Bank of the State of Georgia, a creditor of the J. K. Clarke Lumber Company, filed against it an equitable petition in the nature of a creditor’s bill. An order was passed referring the case to an auditor, and it was therein in substance declared that any other creditor of the defendant might file ■
“ 1. Was the ten thousand ($10,000) dollar note, given to the Darien Bank by James 3L Clarke, given' for the purpose of secur*949 ing ‘one-name’ paper of the James K. Clarke Company, or was it given to secure the payment of any and all present or future indebtedness due the bank by the James K. Clarke Lumber Company?
“2. Were the securities placed with the Bank of Darien by Mr. James K. Clarke placed there as additional security for the payment of the ‘one-name’paper of the James K. Clarke Lumber Company, or was it placed there for the purpose of securing present or future indebtedness of any kind of the James K. Clarke Lumber Company to the Darien Bank ?
“ 3. If you answer the preceding question by saying that the securities were placed with the bank to secure present and future indebtedness, answer whether or not Mr. James K. Clarke directed the Bank how or where to apply the money realized from the sale of these securities; and if he did, to what particular indebtedness of this character did he direct the money to be applied ?
“4. If Mr. Clarke directed the application of this money in manner asked about in question 3, when was the direction given to the bank ? Was it before or after the bank had made the application of the money ?
“ 5. If after, did Mr. Clarke know that the bank had already made the application and to what indebtedness it had applied it ?
“6. Is the three thousand ($3,000.00) draft in question one of that class of papers known and treated as the ‘ one-name’ paper of the James K. Clarke Lumber Company ? ”
The jury answered these questions as follows:
“ 1. We, the jury, find the $10,000 dollar note was given to secure all present and future indebtedness of James K. Clarke Lumber Company to Darien Bank.
“ 2. It was placed there for the purpose of present and future indebtedness of any kind of the J. K. Clarke Lumber Co. to the Darien Bank.
“ 3. J. K. Clarke did direct that money be applied to the nóte on demand and indorsed by Adam Strain.
“ 4. It was after the bank had made the application the direction was given.
“ 5. J. K. Clarke did know that the. application had been made and had been applied to $3,000 dollar draft.
“6. $3,000 draft is one of that class of papers known as the one-name paper.” -
Judgment on main hill of exceptions reversed, with direction; cross-hill of exceptions dismissed.