Pacific Building & Loan Ass'n v. Central Bank & Trust Co.

The respondent is a corporation doing a building and loan business, with its principal office at Tacoma. Its loans and stock subscriptions are paid monthly. For the purpose of collecting the amounts due, it appointed the Central Bank & Trust Company at Yakima its agent. A list of the names of the persons indebted to respondent was furnished to the bank each month. On the 24th of each month, the bank would fill in the amount collected and return to respondent the statement, together with the amount due, less one per cent for collection. The persons paying the money to the bank carried…