First National Bank of Waubay v. Herold

This action was on a note for $1,690, with interest at 10 per cent given by defendant Gust Herold to First National Bank of Waubay. 'Some two weeks after it was given, Ernestine Herold, the mother of Gust, at the request of the bank, also signed the note. On the trial it appeared: that Gust Herold had done business with the bank for many years and at various times had more than one note outstanding in the bank. While the note in suit was pledged with the Federal Reserve Bank in Minneapolis, Gust made a payment of $440.40 to First National Bank of Waubay, which he testified was paid to apply…