Security State Bank v. First National Bank

Appeal from a judgment of nonsuit in an action for the recovery of proceeds from the sale of mortgaged cattle.

The facts are undisputed and are substantially as follows: Two brothers, Elmer and A. C. Bair, reside in the vicinity of Ismay, in Custer county, and originally did all their banking business with defendant bank. In 1914, they borrowed from this bank and gave to it a chattel mortgage on certain cattle. In 1916, the mortgage note remaining unpaid, they sought a further loan for the purpose of purchasing additional cattle, but were refused. Elmer Bair then secured a loan from Himsl,…