State ex rel. Carroll v. Corning State Savings Bank
Supreme Court of Iowa
Appeal from Adams District Court.— Hon. W. E. Miller, Judge. P. H. Bevin was appointed receiver of the insolvent estate of T. C. Reid, which was reduced to money prior to June 1, 1898, and deposited in the Corning State Savings Bank. The account continued until the bank closed and C. F. Andrews was appointed receiver'in February, 1904, at which time there was a balance of $1,466.63. The course of the litigation necessitating this long delay appears in First Nat.
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Appeal from Adams District Court.— Hon. W. E. Miller, Judge. P. H. Bevin was appointed receiver of the insolvent estate of T. C. Reid, which was reduced to money prior to June 1, 1898, and deposited in the Corning State Savings Bank. The account continued until the bank closed and C. F. Andrews was appointed receiver'in February, 1904, at which time there was a balance of $1,466.63. The course of the litigation necessitating this long delay appears in First Nat. Bank v. Reid, 122 Iowa, 280, in which action the Rock Island Plow Company, finally procured a judgment for the possession of certain…
1Opinion of the CourtLadd, J.
*5991. Receiver: deposit of *598A receiver may «deposit the funds of an insolvent estate coming into his hands as such in a bank of good, standing and repute. In determining the character of the bank that degree of prudence and care is exacted which is ordinarily exercised by reasonably cautious men in Irans*599acting their own business of like importance, and the sanie rule obtains with reference to continuing the . ° deposit. Beach on Receivers, section 309; Officer v. Officer, 120 Iowa, 389; Terrell v. Terrell, 69 N. C. 59; Barton’s Ex’r v. Ridgeway’s Adm’r, 92 Va. 162 (23 S. E. Rep. 226); 23 Am. &…
2Cases cited3 opinions
- Officer v. OfficerSupreme Court of Iowa · 1903
- Atlantic & North Carolina R. R. v. CowlesSupreme Court of North Carolina · 1873
- Barton's Ex'or v. Ridgeway's Adm'rSupreme Court of Virginia · 1895
3Cited by5 opinions
- Peurifoy, Receiver v. Gamble, ReceiverSupreme Court of South Carolina · 1927
- Wagner v. Citizens' Bank & Trust Co.Tennessee Supreme Court · 1909
- Bridge v. First Nat. Bank-DetroitDistrict Court, E.D. Michigan · 1933
- Peurifoy, Receiver v. Gamble, ReceiverSupreme Court of South Carolina · 1927
- State Ex Rel. City of Grinnell v. CarneySupreme Court of Iowa · 1928