Fidelity & Casualty Co. v. Allen

LINDLEY, District Judge.

Appellees, First National Bank of Kewanee, Ill., and Theodore D. Allen, as receiver thereof, sued in equity to set aside two pledges of general assets of the bank as collateral security for deposit of public funds in the hands of the county collector of Henry county, Ill., and to recover the securities thus pledged to indemnify appellant upon its liability as surety for the collector. The facts are stipulated. The particular funds in the hands of the collector at the time of the closing of the bank consisted of $63,810.52, credited to his account and covering collected…