City of Ortonville v. Hahn

Defendants appealed from an order denying their motion for a new trial.

Plaintiff seeks to recover upon the $10,000 official bond of defendant Hahn, its treasurer. The other defendants are his sureties. The Ortonville State Bank was duly designated as plaintiff’s de pository. It furnished a statutory bond in the sum of $10,000. The treasurer thereafter deposited money in the bank to the extent of $12,715.89, and while said sum was therein it failed and went into the hands of the commissioner of banks. Upon receiving a 15 per cent dividend from the commissioner, plaintiff applied $1,500 upon…