People ex rel. Nelson v. Peoples State Bank

In a dissolution proceeding instituted by the Auditor of Public Accounts, a receiver was appointed to administer the affairs of the Peoples State Bank of May-wood. The Village of Maywood then had on deposit in its general banking account the sum of $52,026.93 and the further sum of $11,659.64, in the so-called Polan Collector and Water Department Accounts. The village sought by petition to obtain a preference as to both accounts in excess of $30,000, which was covered by depositary bonds, as fixed by authority of the village trustees. The court allowed the preference as to the Polan Collector…