Andrew v. United State Bank

— The facts disclose that, for several years prior to October 22, 1924, the United State Bank was engaged as an Iowa banking corporation in the transaction of a general banking business in Des Moines, Iowa. On said date, its doors were closed, and shortly thereafter, the superintendent of banking of the state of Iowa -was appointed receiver. On the 1st day of July, 1922, the bank, as principal, and the American Surety Company, as surety, executed a depository bond to the treasurer of the Independent School District of Des Moines and the school district, as obligees, for the sum of $25,000. On…