Great Atlantic & Pacific Tea Co. v. Citizens' Nat. Bank

Me VICAR, District Judge.

This is a suit for the purpose of recovering a deposit whieh the plaintiff claims is held in trust for it. Issues were formed by the bill and answer. The following findings of fact and conclusions of law are made:

Findings of Fact.

The facts are found as stated in the “Agreed Statement of Facts” of the parties filed herewith.

Conclusions of Law.

1. The contract between the plaintiff and the Citizens’ National Bank did not create an •express trust.

2. The bank was not hopelessly or irretrievably insolvent when the deposits of October 3 and 5,1931, were made, therefore an…