Cameron v. Carnegie Trust Co.

Opinion by

Mr. Justice Simpson,

The Ottumwa National Bank, appellant, sent to the Carnegie Trust Company a note for collection and remittance only. The bank was not a depositor of the trust company, and the latter institution was then insolvent, a fact which did not become known to the bank until after the secretary of banking had taken possession of the trust company’s assets, as hereinafter set forth. Despite the fact of its insolvency, the trust company accepted the note, received its amount in cash, mingled the sum so received with its other funds, and sent to the bank a draft on the…