Aetna Casualty & Surety Co. v. Village of Maywood

This is an appeal by complainant from an order which sustained demurrers to its amended bill and (complainant having elected to stand by) dismissed the same for want of equity. The case grew out of the failure of the Peoples State Bank of Maywood, one of the defendants, which was closed by the direction of the Auditor of Public Accounts on February 8, 1930, and which is insolvent. When the bank failed the Village had on deposit with it approximately $63,000. Complainant had prior thereto executed and delivered to the Village two depositary bonds in which the bank was principal and the…