Bank of Avon v. Smith

This action is brought by the Bank of Avon to recover upon a certificate of deposit alleged to have been issued by the Security Bank of Tyndall. The Security Bank is insolvent and in the hands of the superintendent of banks for liquidation. Defendant, F. R. Smith, is the superintendent of banks. All facts were stipulated and found by the court as stipulated.

Both banks are corporations. At all times material to the issue involved George E. Pfeifle was the cashier and managing officer of the Security Bank, defendant. On January 6, 1925, said Pfeifle issued to E. J. Kiehlbauch, cashier of the…