In Re Estate of Prunty

B.F. Prunty in his lifetime was president of the claimant bank. Under date of March 17, 1922, the deceased and other officers and directors of the bank executed the following instrument:

"To Mr. W.J. Murray, "Superintendent of Banking, "Des Moines, Iowa.

"Dear Sir:

"For the consideration of being permitted to carry in the assets certain receivables and real estate referred to below and designated as doubtful by the examiners, we, the undersigned officers and directors of the University State Bank of Des Moines, Iowa, severally guarantee the said bank against loss in an amount not to exceed one…