German Am. St. Bk. v. Farmers M. Sav. Bk.

I. The plaintiff is a banking corporation located at Chalco, Nebraska, and organized under the laws of that state. On May 29, 1922, John Schleisman, vice president of the Farmers Merchants Savings Bank, executed the note in suit, to 1. BANKS AND Louis Kovar, its cashier. It is admitted, or BANKING: clearly proven, that the maker received no insolvency: consideration for the note, and that it was, in assumption fact, executed for the use and benefit of the of bank. On or about the date of its execution, the liabilities: note was transferred to appellant for value, the construc- payee indorsing…