Livestock National Bank v. Minnehaha State Bank

This action is brought to recover from respondent as indorser on a certain promissory note made by Chas. W. Peterson. After issue joined the Garretson bank closed its doors and John Hirning, then superintendent of banks, was, by proper proceedings, made a party defendant. The complaint is in the usual form.

The answer alleged in substance that, if the note sued on was made by Chas. W. Peterson, it was so- made while he was an active officer, namely, vice president of respondent bank; that the loan was made directly to Peterson and was a private transaction between Peterson and appellant bank,…