Independent School District No. 1 v. Porter

At the close of business on August 11, 1924, the Bank of Montpelier suspended payment and was taken over by the commissioner of finance for liquidation. When the bank closed its doors there was on deposit in the name of Harold B. Hull, as treasurer of the school district, the sum of $9,783.48. The school district filed its claim to have its deposit allowed as a trust fund under subd. 2, see. 13, chap. 42, of the Laws of 1921. The commissioner allowed the claim under subd. 3 thereof. From such allowance an appeal was prosecuted to the district court. A separate action was also prosecuted in…