Phares v. Hood

Hatcher, Judge :

These cases involve the responsibility of a bank for a number of U. S. Government bonds left for safe-keeping by depositors with Irving Ritchie, its cashier. The bank became insolvent, was closed December 31, 1931, and was placed in charge of a representative of the banking commissioner’s office, as receiver. The bond owners requested him to return the bonds; he replied simply that he did not have them. No trace of them appears in the evidence except of two, which were shown to have been negotiated by the bank. A preferred claim was awarded the owner of those two. Recoveries…