State v. Dix

Appellant was convicted of the crime of embezzling funds belonging to the Scandinavian-American Bank of New Whatcom, of which bank he was president. It appears that, prior to his connection with the bank named, the appellant was insolvent, but he managed to purchase a controlling interest in the stock of the bank with borrowed money. After he had acquired his interest and was made president thereof, he repaid the borrowed money from funds of the bank, and subsequently took large sums from the bank and placed therein his unsecured promissory notes instead of the money taken. This money, placed…