Steadman v. Live Stock National Bank

I. Appellant, Steadman, was manager of the Farmers’ Shipping Association of Centerville, South Dakota, an association composed principally of fanners, whose object in maintaining the association was to sell their live stock on the market at Sioux City and elsewhere, the proceeds to be distributed among the farmers when the stock was sold. J. S. Thompson, president of the Bank of Centerville, was a member of the association, and his bank was the depository of funds of the association. Steadman, as manager of the association, took charge of the stock when it was brought in by the farmers to the…