Hays v. Shaw

FUNDERBURK, Justice.

This suit was brought by W. 'S. Hays, against James Shaw, banking commissioner, and Abilene State Bank, to recover $S87 (less $83.70), which had been deposited in said bank prior to its insolvency. The deposit was sought to be recovered as one entitled to priority in payment over general creditors Of the bank, upon the theory that it was made for a specific purpose, agreed to by the bank, and therefore constituted a trust fund. Plaintiff was a Confederate veteran, and the deposit represented the proceeds of pension wax-rants issued to him by the state of Texas. There were…