Bates v. Farmers & Merchants Savings Bank

On July 23, 1931, the Farmers & Merchants Savings Bank of Durant, Iowa, closed its doors, and on July 31, 1931, L. A. Andrew, superintendent of banking, was appointed receiver, and was later succeeded by D. W. Bates as such superintendent and receiver.

Amanda Alpen, in her individual cápacity and as guardian of Arnold E. Alpen, a minor, filed claims in said receivership, which will be later set out. The receiver classified such claims as depositors’ claims. Objections were filed by her, and, on hearing, the district court allowed these claims as preferred. From this ruling of the district…