La Salle Hotel Realty Co. v. Taft

EVANS, Circuit Judge.

The controversy which this appeal presents, involves the question of who should bear a substantial loss occasioned by the failure of the Meyer-Kiser Bank, which closed May 11, 1931, with $40,770.22 on deposit belonging either to appellant or a group for which appellee assumes to speak.

Appellant, an Indiana corporation, constructed a hotel building at South Bend. In order to finance the venture it contracted with the Meyer-Kiser Bank, which although organized to do a banking business was engaged at the time in the more questionable and dubious business of financing…