School District v. Security Bank

The plaintiff school district filed this suit, in the Circuit Court of Buchanan County, against the defendant bank, as principal, and the defendants R.I. Bilby, James E. Strickler, Frank Frogge and nine other defendants, as sureties, on the bond of the bank, commonly known as a depositary's bond, in the sum of $100,000, alleging a breach of said bond and a loss of $45,030.84 of the plaintiff's funds as the result of the insolvency of the bank. The venue was changed to the Circuit Court of Clay County, where the case was tried before the court, a jury being waived. The trial court found the…