In Re Assignment of Gates

I. J. N. Gates conducted a private bank at Davis City, Iowa, under the name of the Valley Bank. He was the sole owner thereof. On April 9, 1921, he made a general assignment for the benefit of creditors, naming Francis Varga as assignee. Varga duly quali- ° , fied, and took possession of the property. At this time there was on deposit in said bank the sum of $3,568.98 belonging to the district school township of Burrell, in Decatur County. The township filed claim therefor with the assignee, and the same was approved and allowed. The claim of the township was duly assigned to the appellees…