Porter v. Canyon County Farmers' Mutual Fire Insurance

On November 16, 1925, the Western Commercial Bank in Caldwell, while insolvent accepted a deposit from defendant, Canyon County Farmers’ Mutual Fire Insurance Company, and delivered such company as security therefor $20,411.81 worth of its assets consisting of certain warrants. On December 23d following the bank closed and was placed in the hands of the Commissioner of the Department of Finance. Demand for the surrender of the warrants was made upon the Insurance Company, which demand having been refused, the Commissioner sued for their recovery, or, in lieu thereof, their face value together…