ERROR to the Circuit Court of the United States for the Northern District of Illinois.

This action was against the defendants, as second indorsers of certain promissory notes, transferred by them to the Ocean National Bank of the city of New York. The bank having failed, the notes came into the possession of the plaintiff, as its receiver. The facts are sufficiently stated in the opinion of the court. The defendants obtained judgment, and the plaintiff brought the case here.

Argued by Mr. H. G. Miller for the plaintiff in error, and submitted by Mr. U. P. Smith and Mr. Stephen Sibley for the defendants in error.

Mr. JUSTICE FIELD delivered the opinion of the court.