Commonwealth v. Flowers

Opinion by

Me. Justice Linn,

Flowers, as secretary of Equitable Building and Loan Association, received on its behalf sums of money without accounting to the association. Accused of defalcation, he made payments on account and, while the amount of his indebtedness was being ascertained, executed and delivered his bond, without surety, in the sum of $10,000, conditioned to pay the amounts so retained by him with interest. The bond also contained his assignment to the association, as collateral for the entire indebtedness, of certain shares of the association’s stock. After executing it, he paid…