Leach v. First Nat. Bk. of Ft. Dodge

The defendant bank and the First Trust & Savings Bank are conjunctively operated in the same banking house, — the stock of the latter bank being owned by the former institution. The plaintiff is the receiver of the Webster County Trust & Savings Bank. On January 20, 1925, the last day that said bank was open for business, it borrowed from the First National Bank the sum of $8,000, and executed for said obligation its promissory note, and concurrently therewith executed what is denominated “General Guarantee and Deposit of Se curity as a basis of credit, which latter written- instrument is as…