Leach v. Commercial Savings Bank of Des Moines

— I. The appellants were officers and directors of the Commercial Savings Bank of Des Moines, Iowa, which, because of insolvency, was closed on December 31, 1924, and its assets taken over by the state superintendent of banking, as receiver. At the time the bank closed, it was indebted to the state of Iowa, as a depositary of public funds,' in the sum- of’$253,576. The state on that day held bonds of corporate- surety companies, aggregating $275,000, and a private bond signed by all appellants, as sureties, in the sum of ’$500,000. On February 3, 1925, the superintendent of banking commenced…