Community Savings Bank v. Gaughen

The pleadings herein are quite voluminous and the facts are unusual. Before undertaking to set forth the issues, it would seem advisable to first state certain facts, shown by the record without dispute.

Plaintiff is a state bank at Edgewood, Iowa, and the defendant bank is a national bank at Clinton. Defendant Gaughen was, during 1936, cashier for plaintiff. Defendant Anderson was, during 1936, until the latter part of November, president for defendant bank.

"While Gaughen was acting as cashier for plaintiff, he was also engaged in an automobile loan business known as the Automobile Finance…