Shaw v. Snyder Independent School Dist.

FUNDERBURK, Justice. ■

The First State Bank & Trust Company,- of Snyder, Tex., was, at the time it became insolvent, the depository for Snyder independent school district, owing the latter a little more than $20,000. Ernest Taylor, together with H. P. Wellborn and Sam Hamlett, was surety for the bank on the depository bond. Taylor owed the bank personally a note for $10,000, and, being a stockholder, was liable as such, for the benefit of the creditors in the sum of $24,900. After the affairs of the bank were taken over by the banking commissioner for liquidation and the stockholders’…