Butts v. Gaylord State Bank

This action is brought to recover the amount of moneys on deposit with the Gaylord State Bank to the credit of plaintiff, as supervisor of the town of Sodus, at the time of the closing of the bank. The bank was closed by the Superintendent of Banks on April 8, 1933, and has since been in liquidation in charge of such Superintendent.

In January, 1932, an agreement was entered into between plaintiff, as supervisor of the town of Sodus, and the Gaylord State Bank, in *556•which the plaintiff agreed to deposit town moneys in the bank and the bank agreed to keep on deposit with the trustee securities…