Murphy v. Michigan Trust Co.

The Farmers & Merchants Bank was a partnership conducting a private banking business in the city of Grand Rapids. In March, 1921, it made an assignment for the benefit of its creditors to the Michigan Trust Company. The assignee accepted the trust, qualified and is now acting.

Plaintiffs are husband and wife, and deposited money in the bank in their joint names and had such Savings designated in their deposit book as payable to James E. Murphy and Gertrude Murphy, either or the survivor. At the time the bank closed its doors they had $726.62 in such deposit. They also deposited in their joint…