Vining Co-Operative Creamery Ass'n v. Peyton

HOLT, Justice.

Defendants appeal from a judgment adjudging the claim of plaintiff a preferred claim in the matter of the liquidation of Lund’s State Bank of Vining.

Andrew T. Lund for more than ten years was president of Lund’s State Bank of Vining, performing also the duties of cashier. During the same time he was secretary-treasurer of plaintiff. On the 19th of January, 1931, plaintiff had a balance in its checking account at the bank of $1,827.98. For some time prior to that date plaintiff had been accustomed to receive advances from its customer the Land O’Lakes Creamery Association; but…