Detroit Piston Ring Co. v. Wayne County & Home Savings Bank

Plaintiff and appellee, Detroit Piston Ring Company, a Michigan corporation, engaged in the manufacture of piston rings in the cities of Detroit and Plymouth, Michigan, deposited its funds with defendant and appellant, American State Bank of Highland Park, Michigan. It withdrew them by checks signed by either John Magee, president, or Harry Magee, secretary and treasurer. Evidently plaintiff’s business prospered with the automobile industry, for it grew very rapidly and kept fairly large bank balances. One Helen Culbert, formerly Helen Eck, a trusted payroll clerk, in whose integrity and…