Wakonda Independent Consolidated School District No. 1 v. McCullough

This is an appeal from a judgment entered against the -defendants, E. W. Babb, W. G. Wright, D. J. Mart, and L. PI. Jacobson. The court made findings of fact which disclose the following: In 1930 the plaintiff school district -had on deposit in the Bank of Wakonda certain school district funds. The school district indicated to the bank that it was going to withdraw the funds from the bank and invest them in United States govern- • ment bonds. One Sam Jacobson was cashier of the bank, and he made arrangements with the board of education of the plaintiff school district, whereby the deposit was…