Leach v. Bassman

Appellant is the receiver of the Commercial Savings Bank of Des Moines, to which the appellee was, on December 31, 1924, indebted upon three promissory notes, upon which, at the time of the trial, there was a balance of $2,500 due. The execution of the notes is admitted by appellee. By way of cross-petition, appellee alleges that, on or about June 8, 1924, he became surety on the bond of the said Commercial Savings Bank, executed by it as principal, to the Independent. School District of Des Moines, to secure its deposits therein; that, on December 31, 1924, the bank ceased to do business,…