Cole v. School District No. 30

Between November 5,1926, and February 3,1928, School District No. 30 of Clatsop county caused to be issued in payment of teachers ’ salaries, supplies, equipment and other incidental expenses of the district certain warrants, and 220 thereof, aggregating the principal sum of $19,522.87, were purchased by the Astoria National Bank. Later, and while it was still the owner of said warrants, the bank closed its doors and John H. Cole, the plaintiff herein, was appointed as the receiver of said bank. None of the warrants held by the bank were paid and on December 29, 1930, in an action brought by…