City of Estelline v. Calef

From May, 1925, until May, 1927, defendant Calef was treasurer of the city of Estelline, and the other defendants were sureties on his bond for $10,000 as such treasurer. When his successor qualified and demanded of Calef an accounting for the moneys received 'by him as treasurer and payment of the balance in his hands, he failed to account for the sum of $13,260.78 otherwise than by surrendering to him a claim for that amount against the insolvent Estelline State Bank, in which he had the city funds on deposit to the amount at the time of its suspension on September 16, 1926. On June 1,…