County of Hettinger v. Trousdale

This is an action by Hettinger county against the sureties on bonds given to secure deposits of county funds in the closed First National Bank of Mott. On March 4, 1933, the county had on deposit in this bank the sum of $146,089.72 secured by two depository bonds of $60,000 each executed by the defendants as sureties. On the above date the bank was closed by Proclamation of the President of the United States. It was first placed under the control of a conservator. It never reopened for regular business and a receiver was appointed by the Comptroller of the Currency of the United States on…